Time Limits For Rent Reviews ?

[ktgit]

Hi all

I have a rent review on the 10th august 2005 for my business,i received a letter back in april last from my landlords to inform me that they propose to revise my rent. As yet i have not herd a thing from my landlords and i am concerned that if they leave this much longer it could put me in arrears through no fault of my own.

Is there a time limit on this type of thing?



Kind regards kevin.

[SteveP]

The wording of the lease may be significant and you should really get advice from a solicitor or surveyor who deals with rent reviews.

However, a couple of recent cases I am aware of are:

Lancecrest Ltd v Dr Ganiyu Asiwaju (2005)
"An appeal has been allowed in part after the Court of Appeal found that a judge had reached the correct conclusion on the first issue in holding that, though the trigger notice for a rent review was late, it was nonetheless valid because time was not of the essence"

Hemingway Realty Limited v Master Wardens and Commonalty of the Freemen of the Art or Mystery of Clothworkers of the City of London (2005)

"Where a trigger notice for a rent review was served over a year after the rent review date, it was nonetheless valid where time was not of the essence in the rent review clause relating to the trigger notice."

So in those recents cases the courts decided that time was not of the essence.

[ktgit]

Thanks for the reply



Kind regards kevin.