Rent review provisions are common place in commercial business
tenancies.
Whilst the rent review mechanism is governed by the specific
provisions in each lease in question, it is common to find that in
the absence of agreement, the reviewed rent is to be determined by
an independent expert.
As is frequently the case with determinations of any kind, one
party is likely to be less happy with the result than the
other! This is particularly the case if the lease allows the
independent expert to make an award of costs against the
"unsuccessful" party.
In that event, the question sometimes posed is what can be done
to challenge an independent expert's determination?
The answer in the vast majority of cases is not very
much.
