Agricultural Tenant’s Rent Review Notice
This Agricultural Tenant’s Rent Review Notice should be used by a Farm Business Tenant to commence the rent review process under their Tenancy.
The Rent Review Notice must specify the date from which the rent is to be reviewed (the “review date”). The Notice must be given at least twelve months but less than twenty-four months before the review date.
Unless the Tenancy Agreement states otherwise, the Agricultural Tenancies Act 1995 provides for rent reviews to take place at three-yearly intervals.
The Landlord and Tenant will usually try to agree the revised rent between themselves (with professional advice). If they are unable to reach agreement they may decide to appoint an expert or arbitrator to determine it. If this has not happened, either party may, at any time during the period of six months ending with the review date, ask the President of the Royal Institution of Chartered Surveyors to appoint an arbitrator.
The Tenant should serve this Notice on the Landlord by the method (or one of the methods) specified in the tenancy agreement. There is often a “Notices” clause which will stipulate where and how notices should be served. Subject to what the tenancy agreement says, delivery by hand or by recorded delivery will probably be safest.
Remember that the notice period begins from the time the Landlord receives the Notice, not when it was posted. Do not leave it until the last minute to post the Notice.
It is good practice to enclose a duplicate Notice for the Landlord to sign and return. This provides the Tenant with evidence that the Notice has been received.
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