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Estate and Letting Agency Documents

Commercial Property Lease Renewal and Rent Review Terms and Conditions

The renewal or termination of a business lease under the Landlord and Tenant Act 1954 is a complex area. Both landlords and tenants are likely to need the advice of an experienced agent. Similarly, both landlords and tenants will need professional advice and representation when undertaking a rent review.

The documents in this folder can be used by Commercial Property Agencies acting for landlords or tenants on lease renewals/terminations or rent reviews. The folder contains Terms and Conditions and Agent Appointment Forms which, when used together, create a contract between the landlord or tenant and the agent. There are different versions of the Terms and Conditions and Appointment Forms, according to whether the agent is acting for the landlord or the tenant.

The Terms and Conditions and Appointment Forms can be placed on the agent’s website but they must also be provided to the landlord or tenant client in hard copy. An agency contract is formed by the landlord or tenant completing and signing the appropriate appointment form, confirming acceptance of the relevant set of terms and conditions, and the agent signing to confirm the appointment.

Commercial Property Lease Renewal and Rent Review Terms and Conditions is part of Property. Just £38.50 + VAT provides unlimited downloads from Property for 1 year.

Frequently Asked Questions

My commercial lease is ending. Do I have an automatic right to a new one? +
Usually yes, if the tenancy is protected. Part II of the Landlord and Tenant Act 1954 gives business tenants security of tenure and a right to renew, unless the lease was contracted out of the Act at the start. The landlord can only oppose renewal on set statutory grounds. An experienced agent on the renewal is valuable, and these terms and appointment forms cover acting for the landlord or the tenant.
How does a landlord end or renew a protected business tenancy? +
By a section 25 notice under the 1954 Act, stating whether the landlord opposes renewal and, if so, on which statutory ground such as redevelopment or the landlord's own occupation. A tenant wanting a new lease can instead serve a section 26 request. Both run on strict timing, six to twelve months' notice, so professional advice matters. The templates let an agent act on either side.
What is a rent review and can the rent go down? +
A rent review adjusts the rent during the lease term under the review clause, most often on an upward only basis, which means the rent can stay the same or rise but not fall below the passing rent. The mechanism and dates come from the individual lease and not from statute, so both sides usually need professional representation on the valuation. These terms cover an agent acting on a rent review for either party.
Can I act for both the landlord and the tenant on the same renewal? +
No, that is a conflict of interest. On a lease renewal or rent review the landlord and tenant have opposing aims on rent and terms, so an agent acts for one side only. That is why the folder has separate terms and appointment forms for acting for the landlord and for acting for the tenant. Pick the version that matches your client.
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