• Brasília, São Paulo e Belo Horizonte

Adjustment of rent to market value through Revisional Lawsuit

Both the leased and the lessee can use the Revisional Rent Lawsuit to adjust the rent value when the price charged differs from the market value. Even if there is a contractual lease clause, if the value practiced in the market is different, the rent adjustment is possible through an action for review of values.

In the lease agreement, both parties to the contractual relationship (landlord and tenant) have obligations. However, during the lease, it may happen that factors external to the contractual relationship add or remove the value of the rent, for example: the construction of a Shopping Center close to the leased property, which increases the commercial potential of the property due to the greater movement of people, causing thus greater added value to the rent; or the reverse: for example, when a large company located close to the leased property closes down, thus causing a decrease in the value added to the rent due to lesser movement of people.

External factors to the contractual relationship of a commercial property, such as a significant change in the flow of people, can be a reason for a revisional action of a lease, which can be brought by both the lessor and the tenant.

In cases where the rent practiced significantly differs from the market value for the same property, the aggrieved party may file a rent revision lawsuit, so that the Judge can arbitrate a new rent value that will be practiced during the lease term.

To make use of the revisional lawsuit, the interested party, lessor or lessee, must observe, as a time requirement, the minimum term of 3 years of validity of the lease, or of the last contractual renewal, or even, of the judicial review of the rent value.

The judge will fix, from the beginning of the lawsuit, when requested, the provisional rent, which will not exceed 80% of the request by the lessor; nor will it be less than 80% of the current rent, if filed by the lessee. The difference between the provisional rent and the rent arbitrated at the end of the action will be paid, or returned, at once, monetarily corrected.

If there is no conciliation regarding the value of the rent, a technical inspection will be carried out to evaluate the rent, which in the end will instruct the arbitration of the value by the judge.

The parties may agree, regardless of the revised rent value, to vacate and deliver the property, by agreement that will be judicially approved in the same lawsuit and will be voluntarily performed by the lessee within the agreed period, or, otherwise, executed by eviction warrant.

In view of the peculiarities of the revisional rental action, with analysis of the requirements and attention to the procedural rite (form, term and defense), it is important to get assistance by a lawyer specialized in Real Estate Law, so that the contractual and legal obligations are observed, within the scope of the interest of the party.

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Advogados especializados em causas imobiliárias