DrCavanMan
Registered User
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After a rent review of a commercial tenancy the tenant can dispute the amount of the rent increase and the matter is then referred for arbitration.
My questions are these,
1. By referring the matter for arbitration is the tenant committing to the new lease and consenting to the rent level to be set by the arbitrator?
2. If the tenant is still unhappy at the rate of rent set by the arbitrator can they at that point decline the new lease without penalty or are they obliged to accept?
3. During the arbitration process does the tenant continue to pay rent at the rate of the previous lease and then pay the shortfall once the new rent level has been set by the arbitrator?
Appreciate your help...
My questions are these,
1. By referring the matter for arbitration is the tenant committing to the new lease and consenting to the rent level to be set by the arbitrator?
2. If the tenant is still unhappy at the rate of rent set by the arbitrator can they at that point decline the new lease without penalty or are they obliged to accept?
3. During the arbitration process does the tenant continue to pay rent at the rate of the previous lease and then pay the shortfall once the new rent level has been set by the arbitrator?
Appreciate your help...