ABSTRACT
The concept of rent reviews over 150 years old. It seems that the idea of a variable rent was a commonplace by the late 19th century although the earliest reported case about a change in rent during the term was heard in 1926. It is desirable to specify the rent review dates rather than attempt to describe them by such referential methods as "the expiry of the fifth year of the term" or each fifth anniversary of the term commencement date. The rent review clause should set out the basis of valuation of the premises. The disregards are designed primarily to avoid the tenant having to pay an increased rent for benefits which it has brought to the premises. In the intervening decade the courts have leaned heavily on the presumption in favour of reality when interpreting rent review provisions.
