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There are currently 8 names in this directory beginning with the letter I.
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I
Incentive
An incentive is a payment that is used to encourage a tenant to take on a new leasehold contract when a lease is granted or assigned. A common example is where a landlord pays a tenant a sum of money to contribute to the cost of a tenant's fit-out or allows a rent-free period.

Independent expert determination
Expert determination in the UK involves an independent third party, acting as an expert deciding a dispute using their own knowledge and experience. This is a common way of resolving rent review and valuation disputes. It is seen as quicker and cheaper than arbitration and particularly suitable to specialist property disputes.

Indexation
The practice of linking the review of the tenant's payments under the lease to a published index, most commonly the Retail Price Index (RPI) but also the Consumer Price Index (CPI). Most commonly associated with service charge payments, annual adjustment of service charge caps and rent reviews.

Interim rent
The rent payable during a period of holding over while a new lease is negotiated or completed under the Landlord and Tenant Act 1954. If the lease is renewed, the revised rent becomes the interim rent, although either party can apply to the court for a variation to this presumption, on limited grounds.

Interim schedule of dilapidations
The interim schedule of dilapidations - served during the lease term, at any time after lease commencement. It is usual for the interim schedule of dilapidations to be served before the last 18 months of the lease. The intention of an interim schedule is to identify breaches of lease and necessary works to remedy the breach within a set time frame.

Internal Rate of Return (IRR)
The rate of interest at which all future cash flows must be discounted in order that the net present value of those cash flows, including the initial investment, should be equal to zero.

Internal Repairing Lease (IRL)
A lease where the landlord retains responsibility for, and bears the cost of, external repairs. Differs from the more common Full Repairing and Insuring (FRI) lease, and commonly results in a higher rent reflecting the tenant's lower obligations in respect of annual expenditure on repairs.

Investment property
Property held as an investment with the primary purpose of yielding a return over the life of the holding.
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