Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Rent definition

What does Rent mean? Rent is the monetary consideration a tenant pays to a landlord for the right to occupy premises under a lease. In UK and Irish practice, rent must be certain or objectively ascertainable from the lease throughout the term, typically by stating an annual sum and (if applicable) a review formula (open market rent review, index‑linking or fixed uplifts). Commercial rent is commonly payable in advance by equal instalments on the specified rent payment dates. English quarter days (25 March, 24 June, 29 September, 25 December) remain widely used in England & Wales and Northern Ireland; Scotland traditionally uses Scottish term days...

Schedule: Annual Rent Based on Rents Received or Receivable under Occupation Agreements; Quarterly Certification, Payment Provisions, Open Market Rent Review, and Independent Surveyor/Accountant Determination

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Precedents

Calculation and payment of Annual Rent

[ Further definitions for insertion within the general definitions claUse in the principal body of the Lease ] Annual Rent • the sum calculated and due in line with Schedule [ number of this Schedule in the Lease ]; [ Approved Licence • a licence to use an area within the [ Property OR Building OR Centre OR in the form of the template annexed to this Lease at Appendix 1 [ (with any variations that the Landlord [ requires OR and the Tenant from time to time agrees OR in writing) ] ; ] [ Approved Underlease • an underlease of [ a Lettable Unit OR part of the Property OR Building OR Centre ] ] in the form of the template annexed to this Lease at Appendix 2 [ (with any variations that the Landlord requires OR and the Tenant may from time to time agree ] in writing) ] ; ] 1 Definitions In this Schedule, the following meanings apply: Accountant • the individual appointed in accordance with paragraph 8.2; Additional Rent • the sum by which [ number ]% of Gross Revenue in each Quarterly Period exceeds the Base Rent...

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Web page updated on 22/05/2026

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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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