Answers · Market rent review
What is a market rent review?
Direct answer
A market rent review is a point in a commercial lease where the rent is reset to current market levels rather than moved by a fixed amount. An independent assessment of comparable evidence sets the new figure, usually at agreed dates during the lease term.
Commercial leases typically include several review mechanisms: fixed percentage increases, CPI-linked increases, and market reviews. At a market review, the rent is adjusted to reflect what the premises would command if leased today, based on comparable evidence. If the parties can't agree, the lease usually provides for an independent valuer to determine it.
Market reviews are a moment of leverage — and risk. Preparing early, gathering your own comparable evidence and understanding the mechanism in your lease all help. A landlord who runs fair, transparent, clearly-evidenced reviews makes the process far less adversarial, which is one reason the quality of your landlord matters as much as the clause itself.
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