Upward-only clauses common
Upward-only clauses common
- 2004
- Property Week 69(27) 2 July 2004, 7(1) .
Upward-only rent reviews are still common, despite the "Code of practice for commercial leases England and Wales" (ISBN 1842190989), research by RICS has shown. Only 7% of respondents to RICS's annual survey said upward-only rent reviews were becoming less prevalent. The survey shows that nearly a third of tenants asked for more flexible lease terms because of the Code, up from 20% last year. While around 42% of landlords were offering more flexible terms, up from 32%. Government will decide at the end of 2004 whether to legislate against upward-only rent review clauses.
LEASE LENGTH
UPWARD ONLY RENT REVIEWS
RICS RESEARCH
FLEXIBLE LEASES
COMMERCIAL LEASES
CODE FOR LEASING BUSINESS PREMISES IN ENGLAND AND WALES
Upward-only rent reviews are still common, despite the "Code of practice for commercial leases England and Wales" (ISBN 1842190989), research by RICS has shown. Only 7% of respondents to RICS's annual survey said upward-only rent reviews were becoming less prevalent. The survey shows that nearly a third of tenants asked for more flexible lease terms because of the Code, up from 20% last year. While around 42% of landlords were offering more flexible terms, up from 32%. Government will decide at the end of 2004 whether to legislate against upward-only rent review clauses.
LEASE LENGTH
UPWARD ONLY RENT REVIEWS
RICS RESEARCH
FLEXIBLE LEASES
COMMERCIAL LEASES
CODE FOR LEASING BUSINESS PREMISES IN ENGLAND AND WALES