UORRUpward-Only Rent Reviews (leasing policy; UK)
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References in periodicals archive ?
With the greater prevalence of shorter leases and rental values still below peak highs, it could be argued that a true UORR no longer exists.
The use of short leases negates the need for a tenant to commit to UORR or RPI inflation linked increases.
If it concludes Reading's report indicates landlords still use UORR without offering tenants a genuine, informed choice of alternatives, it will consider statutory control.
The university's interim report "shows that UORRs are still virtually the only form of rent review".
From the comments made "legislation could distort the market which in the main responds to economic changes itself to remain commercially competitive", it would appear that landlords and tenants do not look at UORR clauses as an isolated issue when taking a lease.
Property consultant and chartered surveyor Gerald Eve has announced the findings of its research into upward-only rent reviews (UORRs).