Common use of Rent Reviews Clause in Contracts

Rent Reviews. accounting. When the rent review has been agreed, the buyer must account to the seller for any increased rent recovered from the tenant that relates to the seller’s ownership of the property within 5 business days of receiving the rent. If a rent review is agreed before completion but the increased rent recoverable has not been received by completion, the amount recoverable will be treated as arrears.

Rent Reviews. accounting. When the rent review has been agreed, the buyer must account to the seller for any increased rent recovered from the tenant that relates to the seller’s ownership of the tenantthatrelatestotheseller’sownershipofthe property within 5 business days of receiving the rent. If a rent review is agreed before completion but the increased rent recoverable has not been received by completion, the amount recoverable will be treated as arrears.