Rent review vs. Growth + - Modeling question

Hi all,

Facing a modelling test soon, need to fix a couple of things while training:

1. RENT REVIEW

Tenant 1: 

Lease start 1/1/2019

Lease expiry 12/31/2028

Passing Rent PSF = 100

Current ERV = 110 
Rent Growth = 1.5% during 3y then 2.0% during 2y then 2.5%...

Rent review "5 yearly"

Does that mean that after 5y we change its rent for ERV while applying rent growth each year or that we only apply growth after 5y? If so how does it work?

1/1/2024 -> 100*1.015 ?

2. Formula to include Break option + Renewal proba + Downtime + Rent Free…

Tenant 1:

Lease start 1/1/2019

Lease expiry 12/31/2028

Break option 1/1/2024 (No probability given let's call it 80/20)

Rent Free 24mths

Renewal (No probability given let's call it 50/50)

Should my rent be: 

If before break option -> Passing Rent

If reaching break option -> (Passing Rent80%) + ((0 Rent - Void Cost)20%)) 

How do I model a potential break? I really don't get it, to me it's another scenario in which I would just cut let's say 6 months of rent then do -> 24mths rent free then ERV...

Any advice, link, template, quick excel analysis or anything would be great!

Thanks all