What does "unilateral variation" mean concerning lease terms?

Prepare for the TPI Leasehold Management Level 3 Test. Use flashcards and multiple choice questions, each with hints and explanations. Ace your exam!

The term "unilateral variation" refers to a change in the lease terms that is initiated by one party, specifically the landlord, without the consent or agreement of the leaseholder. In this context, it means that the landlord has the authority to implement changes to the lease terms independently, which could be based on specific provisions in the lease agreement that grant them that power. This could involve adjusting terms like rent, maintenance responsibilities, or other obligations without needing to seek approval from the leaseholder.

Understanding "unilateral variation" is important because it highlights the balance of power within lease agreements and the implications for leaseholders who may be subject to these changes without their input. This concept illustrates the necessity for leaseholders to be aware of their rights and the specific terms of their lease to fully understand how such unilateral changes might affect them.

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