Section 10 Rent Agreement After A Statutory Rent Review
Publisher one
Genie AIJurisdiction
England and WalesCost
Free to useRelevant sectors
Type of legal document
🏠 Agricultural tenancy agreementBusiness activity
Rent agreement under ATA 1995The Agricultural Tenancies Act 1995 is the main piece of legislation governing agricultural tenancies in England and Wales. The Act sets out the rights and responsibilities of landlords and tenants, and regulates the way in which tenancy agreements can be terminated. The Act covers all agricultural tenancies of land used for agriculture or grazing, regardless of whether they are written or oral agreements.
A statutory rent review refers to the legal process established by UK law wherein the rent payable for a property is systematically reassessed and adjusted at regular intervals. This review is usually conducted to ensure that the rent charged aligns with prevailing market rates, ensuring fairness for both landlords and tenants.
Section 10 of this rent agreement template is likely designed to outline the specific arrangements and adjustments that will be made to the rent following a statutory rent review. It may include details on how the new rental amount will be determined, the implementation procedure, and any corresponding changes to the existing tenancy agreement.
The legal template might specify the year of the review, the triggering factors or conditions for conducting a review, and perhaps any limitations or exceptions to the review process. It could also outline any specific notice periods, deadlines, or requirements that both parties must adhere to during the review process.
Furthermore, this template may cover consequences or penalties for non-compliance with the statutory rent review process, such as the potential remedies for a landlord who fails to carry out a review or a tenant who refuses to accept the revised rental amount.
Overall, the "Section 10 Rent Agreement After A Statutory Rent Review under UK Law" template would serve as a standardized legal document that landlords and tenants can use to formalize their agreement regarding rent adjustments after a statutory rent review, ensuring transparency, compliance with the law, and mutual understanding between the parties involved.
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