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50% increase on business rent

A landlord of a lease to business – could he increase the annual rent by 50% on the first five-year rent review? Paul.

Hi Paul.  It depends on what it says in the lease but usually business leases provide that the rent shall be the market rent provided it is not less than the previous rent.  If rent has increased in the marketplace then he or she is entitled to do this. 

What normally happens is that each side gets their own valuers to give an opinion as to what the new rent should be (I presume that the landlord has already done this).   Paul you should immediately appoint a valuer to give an opinion as to what the rent should be and perhaps agreement can be reached between the two valuers.

If this is done you should appoint a Solicitor to draw up the amended rent covenant for inclusion with the lease.

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