For decades, commercial tenants in England and Wales have been locked into upwards-only rent reviews, which let rents rise in a strong market but never fall when the market dropped. That is about to change: the English Devolution and Community Empowerment Act 2026 will ban upwards-only rent reviews in new and renewal business leases, a change currently expected to take effect in 2027 or 2028. This article will look what the ban means in practice, how it will reshape lease negotiations and what corporate occupiers should be doing now to prepare.