Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Rent Review definition

What does Rent Review mean? Rent review is the contractual mechanism in a lease for periodically resetting the rent during the term. In practice, it commonly uses one of four methods: open market rent, indexation (e.g. RPI/CPI), fixed “stepped” uplifts, or turnover rent. Under an open market rent review, the rent is reassessed by reference to comparable properties on the review date, assuming a hypothetical letting between a willing landlord and willing tenant of the actual premises on the existing lease terms, but subject to stated assumptions and disregards (typically assuming vacant possession and lawful use, and disregarding tenant’s improvements and goodwill). The concept is not defined...

Scottish Commercial Lease Rent: Quarter Days, VAT, Interest, Open Market and Index-Linked Reviews, Turnover and Stepped Rents, Drafting Pitfalls, and Waiver of Late Review

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Practice notes

This Practice Note explains the legal framework governing rent and Rent Review clauses in Scottish commercial leases. For disputed elements of rent and rent review, see Practice Notes: Rent Arrears in commercial leases—recovering—Scotland and Commercial property rent review disputes—Scotland.

Rent

At Common law, one essential requirement for a lease is the obligation to pay rent, even if only a token sum. Rent is typically due quarterly in advance on the Scottish quarter days; however, it is also frequent for leases where the landlord is an English property company or pension fund to specify payment on the English quarter days (see below) to maintain uniformity across the landlord's portfolio. After the 2008 recession, retail tenants increasingly sought to pay rent monthly in advance, and many landlords have been willing to consent to this. Such arrangements are generally personal to the original tenant and are recorded by a back letter; see Practice Note: Back letters to commercial leases in Scotland. The new Scottish quarter days are:

Candlemas, 28 February
Whitsunday, 28 May
Lammas,

These timings reflect standard practice, while monthly arrangements are consented to on a personal basis for the initial tenant and set out in a back letter with the landlord...

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Kenneth S Gerber

Mitchells Roberton

Ken joined Mitchells Roberton in 2019. He was previously a partner for 12 years at Anderson Strathern, and before that he was a partner at Kidstons.Ken handles landlord and tenant law, site assembly, property development, property financing, property purchase and sale and the property aspects of corporate transactions.He is accredited by the Law Society of Scotland as a specialist in commercial leasing law. He regularly speaks on a range of commercial property subjects at conferences for MBL Seminars, as well as for other providers, and has presented online lectures for The Law Society of Scotland and University of Glasgow. Kenneth wrote the course on commercial conveyancing for the postgraduate Law Diploma at Glasgow University, and is senior tutor on that course. He also regularly provides specialist legal opinions to other firms on commercial lease matters....

Web page updated on 21/05/2026

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Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...

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