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Commercial Rent Review Notice

Commercial Rent Review Notice Template for India

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Key Requirements PROMPT example:

Commercial Rent Review Notice

"I need a Commercial Rent Review Notice for my retail property in Mumbai, proposing a 15% rent increase effective from March 1, 2025, based on current market rates and recent infrastructure improvements in the area."

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Document background
The Commercial Rent Review Notice is a crucial document in Indian commercial property management, typically used when approaching a rent review date specified in the original lease agreement. This notice is essential for initiating formal rent review proceedings in accordance with Indian property law and local rent control regulations. It serves as the official mechanism for proposing rent adjustments based on market conditions, property values, or other factors specified in the lease agreement. The document must comply with both central legislation (such as the Transfer of Property Act 1882) and state-specific rent control laws, making it a key tool in commercial property management across India. The notice typically includes detailed information about the property, current rent, proposed changes, and the basis for the review, while establishing a framework for subsequent negotiations or discussions between the parties involved.
Suggested Sections

1. Date and Address Block: Formal letter heading including date and full addresses of both landlord and tenant

2. Reference Line: Reference to the existing lease agreement including its date and parties

3. Property Details: Clear identification of the leased premises subject to rent review

4. Rent Review Clause Reference: Specific reference to the rent review clause in the original lease that enables this notice

5. Current Rent Statement: Statement of the current rent amount and payment terms

6. Proposed New Rent: Clear statement of the proposed new rent amount

7. Effective Date: Specification of when the new rent is proposed to take effect

8. Legal Basis: Brief statement of the legal and contractual basis for the rent review

9. Response Requirements: Information about how and when the tenant should respond

10. Signature Block: Space for landlord or authorized representative's signature and details

Optional Sections

1. Market Evidence Summary: Brief overview of market conditions justifying the rent review, used when substantial market changes have occurred

2. Payment History Reference: Reference to tenant's payment history if relevant to the review decision

3. Improvement Acknowledgment: Recognition of any improvements made by tenant that affect rent calculation, if applicable

4. Negotiation Period: Proposed timeline for negotiation period, if not specified in original lease

5. Dispute Resolution Process: Outline of dispute resolution process if not clearly defined in original lease

Suggested Schedules

1. Schedule A - Rent Calculation: Detailed breakdown of how the new rent amount has been calculated

2. Schedule B - Market Evidence: Comparable property rents and market data supporting the proposed revision

3. Schedule C - Property Plans: Relevant property plans or area measurements if the rentable area is part of the review

4. Appendix 1 - Photographic Evidence: Photos of property condition or improvements if relevant to the rent review

5. Appendix 2 - Original Lease Extract: Copy of relevant sections from the original lease regarding rent review provisions

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions




















Clauses
















Relevant Industries

Commercial Real Estate

Retail

Office Space

Industrial

Hospitality

Healthcare

Education

Banking and Financial Services

Information Technology

Manufacturing

Logistics and Warehousing

Professional Services

Relevant Teams

Legal

Real Estate

Property Management

Operations

Finance

Asset Management

Facilities Management

Contract Administration

Commercial Operations

Risk Management

Relevant Roles

Property Manager

Real Estate Manager

Facilities Manager

Legal Counsel

Commercial Lease Administrator

Asset Manager

Property Operations Director

Real Estate Director

Commercial Property Analyst

Lease Management Specialist

Chief Financial Officer

Operations Manager

Company Secretary

Real Estate Portfolio Manager

Tenant Relations Manager

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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