29 Mar, 2017
Unintended side effects of a rent concession
Following a recent judgement, a rent concession on a property could now be in very different legal territory. Martin Billings and Rosie Gibb, partners in the Real Estate department at BrookStreet des Roches, explain the full implications.
It is not unusual for a rent concession to be documented in a side letter, keeping the arrangement both confidential and personal to the tenant.
It is also common for a side letter to contain provisions which allow the arrangement to be terminated if the