# EXAMPLE: RENT REVIEW MEMORANDUM
Date: 16 March 2030
Parties: Fallowfield Estates Limited and Beacon Retail Limited
## 1. Parties and subject matter
Fallowfield Estates Limited and Beacon Retail Limited record the rent review under the lease of Unit 2, Fallowfield Parade, Leeds LS6 2AB, title SYK123456, dated 16 March 2014. The review date is 16 March 2030 and this memorandum does not vary any other lease covenant.
## 2. Financial terms
After exchanging comparable evidence and appointing RICS surveyor Helen Ward, the parties agree the revised basic rent at £24,000 per year from 16 March 2030. The figure is subject to the lease's assumptions, disregards, any cap or collar and the agreed floor of £22,500.
## 3. Use and obligations
Rent is payable quarterly in advance on the usual quarter days, with VAT if lawfully chargeable. Service charge, insurance rent, rates, utilities and interest remain calculated under the lease and are not included in the revised basic rent.
## 4. Consent and management
The parties confirm that the review considered permitted retail use, floor area of 410 square metres, repair condition, access, frontage and comparable rents in Leeds. Neither party admits that the evidence changes the repair or service-charge obligations.
## 5. Ending and remedies
If a later measurement, correction or court determination is required under the lease, the rent will be adjusted from the review date and the parties will account for arrears or credit within 20 working days. A disputed sum is paid without prejudice where required by the lease.
## 6. Legal reservations
Fallowfield and Beacon will notify the managing agent, update the rent account and keep the comparable evidence. Any guarantor, lender, superior-landlord consent, title restriction, VAT or SDLT consequence must be checked before execution or registration.
## 7. Signatures
This memorandum is governed by England and Wales law and is intended to be read with, not replace, the lease. Fallowfield: Priya Shah ____________________ Beacon: Daniel Price ____________________ dated 16 March 2030.