Rent Review Uplift Calculator
Work out the new rent at a commercial rent review, applying any cap, collar and upward-only clause to the open market figure.
💼 Are you a real estate agent or broker? Send this calculator to your buyers on your own branded listing page — every enquiry comes straight to your WhatsApp. Create free agent page →A rent review moves the passing rent toward the open market figure, but rarely all the way. Caps limit the increase, collars guarantee a minimum, and an upward-only clause prevents any reduction however far the market has fallen.
Applying those three in the right order is what produces the actual new rent, and it is frequently well away from both the passing rent and the market rent.
The order of operations
Start from the open market rent. Apply the cap as a ceiling on the passing rent plus the capped percentage, then the collar as a floor. Finally, an upward-only clause prevents the result falling below the rent already being paid, whatever the market says.
Worked example
A passing rent of 60,000 with an open market rent of 72,000, a 15% cap and a 5% collar. The cap allows a maximum of 69,000 and the collar requires at least 63,000. The market figure of 72,000 is above the cap, so the new rent is 69,000 — a 15% increase and 3,000 below market.
Caps and collars are worth negotiating
A cap protects a tenant in a rising market and a collar protects a landlord in a falling one. Because they are symmetrical in principle, agreeing both is usually easier than either alone, and it removes the largest uncertainty from a long lease for both sides.
Turn a calculation into an enquiry
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Create your free property pageFrequently asked questions
What is an upward-only rent review?
A clause preventing the rent from falling at review, however far market rents have dropped. It is common in some markets and prohibited or discouraged in others, and it substantially increases the value of the landlord income.
How is open market rent decided?
By comparison with lettings of similar properties, usually assuming a hypothetical letting on the same lease terms. Where the parties disagree, most leases provide for an independent expert or arbitrator to determine it.
Can I challenge the review figure?
Yes, through whatever mechanism the lease specifies, and evidence of comparable lettings is what decides it. Note the timescales in the review clause carefully, since missing a deadline can mean accepting the landlord figure by default.