ABSTRACT
Most modern leases contain provisions to ensure that the rent payable under the lease is reviewed at regular and frequent intervals, the objective being to maintain the purchasing power of the income. Where property investments have been purchased on the basis of low initial yields, a rising rent is essential in achieving anticipated returns. As the basis of the rent review is found in the lease, it is important that the provisions of the lease are known and interpreted properly and in sufficient time to ensure their operation to the benefit of the landlord. Similarly, tenants will wish to limit the increased rents payable under the lease and they or their advisors will look for interpretations of the provisions to assist that search.
