000			01845cam a2200301 4500
001			ABS68362
008			041015n2004 000 0 eng u
035			_a(Sirsi) u127713
100			_aRaymond, L.
245			_aCommercial lease shake-up
260			_c2004
490			_aNew Law Journal _v154(7145) 24 September 2004, 1386-1387(2)
520			_aExamines the government consultation "Commercial property leases: options for deterring or outlawing the use of upwards-only rent review clauses" (J128922). The "Code of practice for commercial leases in England and Wales" (ISBN 1842190989) published in April 2002 recommended that alternatives to Upward Only Rent Reviews (UORRs) should be offered to tenants. Reading University's 2004 interim report on the code's impact (J128920) concluded that no change had been achieved on UORRs. Examines the consultation's six UORR options and the likely impact on the property industry of whichever options are chosen. Concludes that no change to UORRs is unlikely and that, if the government decides to legislate, option two banning UORRs or option three banning UORRs but allowing a floor of initial rent, are the most likely. To allow rents to move upwards or downwards would undermine the value of property as an appreciating asset and constitute the most far reaching change to the UK property market in recent history.
590			_aKA
590			_aABS, UORR
650			_aLANDLORD AND TENANT ACT 1954
650			_aLEASE LENGTH
650			_aBREAK CLAUSES
650			_aCODE FOR LEASING BUSINESS PREMISES IN ENGLAND AND WALES
650			_aUPWARD ONLY RENT REVIEWS
650			_aPROPERTY INVESTMENT
650			_aCOMMERCIAL LEASES
650			_aBUSINESS TENANCIES
690			_aUORR
690			_aLANDLORD AND TENANT-RENT REVIEWS
700			_aBoulton, A.
942			_n0
999			_c118168 _d118168