Document background
The Commercial Rent Review Notice is a crucial document in commercial property management within the United States, typically triggered by specific provisions in a commercial lease agreement that allow for periodic rent reviews. This document is used when either the landlord or tenant wishes to initiate a formal rent review process, usually at predetermined intervals specified in the lease or when market conditions warrant a rent adjustment. The notice must comply with both state-specific commercial property laws and the terms of the original lease agreement. It serves as the formal commencement of the rent review process and typically includes details about the current rent, proposed changes, supporting market evidence, and relevant lease provisions. The document is particularly important in establishing a clear timeline for the review process and ensuring all parties are formally notified of the intended rent review in accordance with legal requirements.
