High-handed clause 1: Rent reviews only if increasing

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    High-handed clause 1: Rent reviews only if increasing

    I have three clauses I want to change in the lease I'm about to sign with a landlord for a retail property. This is my first time and I'm not sure which ones are worth fighting, which are standard for pretty much any tenant, and which are really nasty. So I'm putting them in separate threads so others can look them up later.

    I know, you're all landlords and I'm a tenant, but I'll trust your opinions even more if you say something like "wow, I can demand that?"

    Clause number one specifies that rent is to be reviewed every 2 years and readjusted to match current market pricing. But it specifies this will happen only if market pricing has increased. (!!!) Obviously I'd like to either make this clause symmetrical (review happens for lowered rent too), or remove it.

    Am I likely to succeed? Is this "increased rent only" version standard?

    #2
    Upward only rent review is pretty standard.

    Every two years isn't though, it's mostly 3 or 5 years depending on the term of the lease. As this is your first venture I suggest you get a tenant only break clause at the first review too.

    Comment


      #3
      All these terms are negotiable. If you don't like them, be prepared to walk away. I think LL may compromise given the economic climate.

      Comment


        #4
        I've only ever known a handful of cases where rent reviews were upward or downward. This was usually because a fixed rental increase was unacceptable on a longer term. That said, the majority of that handful were probably within the last few years. It does appear to be more common, although it is still very rare.
        [I]The opinions I give are simply my opinions and interpretations of what I have learnt, in numerous years as a property professional, I would not rely upon them without consulting with a paid advisor and providing them with all the relevant facts[I]

        Comment


          #5
          Three rules:

          1. Never take a lease of commercial premises without taking legal advice from a knowledgeable lawyer.

          2. Remember rule 1.

          3. If you ignore rules 1 and 2 and it all goes horribly wrong blame yourself.

          Comment

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