Each lease is subject to annual upward-only rent reviews
index-linked to the Consumer Prices Index and the Registered Provider is responsible for the costs of repair, maintenance, insurance and outgoings.
The unforgiving shift towards online spending against a backdrop of inflexible leases, upward-only rent reviews
and spiralling operating costs has put traditional retail business models under intense pressure," he said.
The vote was lost 27-23 on a private members' motion proposed by Senator Feargal Quinn dealing with upward-only rent reviews
The data shows this "quiet revolution" in leasing practise has been taking place since the early 1990s, when the majority of leases were "institutional": typically for 90s' 20 or 25 years and often containing upward-only rent reviews
1m a year with Retail Prices Index-linked upward-only rent reviews
A third contract-related factor that may influence the NVR is the issue of upward-only rent reviews
The Grafton Street Tenants' Association recently wrote to Justice Minister Dermot Ahern after he brought in legislation to stop upward-only rent reviews
Also, two distinct advantages of the commercial property market are that leases tend to be longer than for residential property and it is common to have upward-only rent reviews
There will be five-yearly upward-only rent reviews
lease features terms of up to 25 years, and upward-only rent reviews
every five years, with no provision to break the lease.