Rent review checklist: 11 points to check before you negotiate

In the lease

1. 01Do you know whether your rent review is upwards only?

   YesNoNot sure

   Most existing leases allow only upwards-only rent reviews: the rent can stay the same or rise, but not fall. A new law will ban them in new business leases in England and Wales, but it is not yet in force and does not apply to existing leases.

   Read more about the ban

2. 02Do you know whether the review is to open market rental value, RPI or a fixed increase?

   YesNoNot sure

   Unless the lease fixes the increase or links it to an index such as RPI, the new rent should reflect the open market rental value at the review date. How well the business trades, and inflation, are not the test.

   Read: 2025, the year of the rent review

3. 03Do you know whether time is of the essence in your lease, and its deadlines?

   YesNoNot sure

   Most leases say time is not of the essence, but some set strict deadlines, as short as 21 days for a tenant's counter-notice. If one is missed or served wrongly, the landlord's proposed rent becomes final.

   Read: Time can be of the essence

4. 04Do you know what your lease says happens if you can't agree?

   YesNoNot sure

   If you cannot agree, the lease may let either side ask RICS to appoint an arbitrator or an independent expert. RICS charges £425 just to make the appointment, and a third party can be costly and stressful, with no guaranteed result.

   Read: Rent reviews, best practice

5. 05Have you checked the lease's user clauses?

   YesNoNot sure

   They set what the property may be used for, which may affect its rental value.

6. 06Have you checked the lease's alienation provisions?

   YesNoNot sure

   They say whether the lease can be assigned or the property sublet, which may affect its rental value.

In the negotiation

7. 07Have you allowed yourself time to negotiate?

   YesNoNot sure

   Know the review date and diarise it: forewarned is forearmed. In most cases a negotiation is needed to reach an amicable outcome, and that takes time.

   Read: Rent reviews, best practice

8. 08Do you know the recent comparable evidence, per square foot?

   YesNoNot sure

   Surveyors look at recent open market lettings of genuinely similar premises, and at lease renewals and rent reviews agreed nearby, comparing the rent per square foot rather than the headline figure.

   Read: Open market rent, what does it mean?

9. 09Are you ready for the new rent to be backdated to the review date?

   YesNoNot sure

   Tenants keep paying the passing rent until the new rent is agreed. The new rent is then usually backdated to the review date, and once the memorandum is signed an invoice for the back rent follows, so set money aside for it.

   Read: Avoiding back rent

10. 10Will any agreement be recorded in a signed rent review memorandum?

    YesNoNot sure

    A verbal agreement can be binding if there is evidence of it, but without a signed memorandum a new landlord may never know about it, and can activate the review again, with back rent.

    Read: A gentleman's handshake is not always enough

11. 11Will your offers be made on a 'without prejudice' basis?

    YesNoNot sure

See my result

Page updated 25 October 2026