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What is a rent review?

A mechanism in the lease by which the rent as the name suggests is reviewed. Rent is usually reviewed on an upwards only basis which means that if no increase is agreed on review, then the rent will remain the same. Rent can be reviewed by reference to market rent, turnover rent, index link, or sometimes a combination of all of them. There is a trend towards trying to get downward rent reviews although most landlords are resistant to that because it could have an adverse effect on the property value.