A clause in a contract providing for
increases or decreases in rent payments in
accordance with fluctuations of certain
direct costs or expenses of the landlord
(e.g., property taxes) or determined using
an appropriate economic indicator or index.
In leases, provisions may exist for the
rent payment to be increased during the
term, or at renewal of the contract. A
lessee may be required to pay a gross rent,
as well as any additional increase in the
real property taxes attributable to that
portion of the property occupied by the
tenant. This increase normally applies to
additional taxes over a stated year,
commonly referred to as the base year.
Alternatively, a lease may contain
provisions for increases tied to the
Consumer Price Index (CPI) or various
sub-indices published by Statistics Canada.
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