A Commercial Lease Rent Increase Notice is a critical document used in the English and Welsh commercial property sector when implementing rent reviews as specified in commercial lease agreements. This notice serves as the formal mechanism for landlords to notify tenants of rent increases, typically following periodic review periods or trigger events specified in the lease. The document must be precisely drafted to ensure compliance with both the specific terms of the lease and relevant property legislation. It should clearly state the current rent, new rent amount, effective date, and any required calculations or supporting information. Proper service of this notice is essential for the rent increase to be legally enforceable.
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1. Date of Notice: Current date and effective date of the rent increase
2. Parties' Information: Full names and addresses of landlord and tenant
3. Property Details: Full property address and description as per lease
4. Lease Reference: Date and parties to the original lease
5. Current Rent: Statement of current rent amount
6. New Rent: Statement of new rent amount
7. Effective Date: Date from which new rent becomes payable
1. Calculation Method: Explanation of how the new rent was calculated, to be included when lease requires explanation or complex calculation involved
2. Index-Linking Details: Reference to relevant index figures if rent review is based on RPI/CPI or other indices
1. Rent Calculation Schedule: Detailed breakdown of rent calculation method and figures
2. Index Figures: Copy of relevant index figures used in calculation
3. Lease Extract: Copy of relevant rent review provisions from lease
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