I have had the same tenants in my commercial space (office/retail) for over seven years. They are still on the original lease agreement, which contained 3 x 3 year options to renew the lease.
The rent reviews/increases are annual. Every second year it's a CPI increase and every year in between is a market review. (obviously based on similar properties in the area.) the lease agreement includes a ratchet clause so the rent can never go backwards.
So the rent I get is not based on property value. My tenants pay all outgoings so I'm not affected by rising costs in that respect. Other owners in the same complex have chosen to pay their own outgoings, and obviously then the rent will have to reflect rising costs.
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