Interested in our services?

REQUEST A QUOTE

or call 020 7183 2578

Commercial Schedules of Condition

When considering a lease of a commercial property, it is important for a prospective tenant to understand that dependent upon the terms of a lease a landlord can seek to make a claim at the end of a lease for items of disrepair or unauthorised alteration, including any items of disrepair that may exist before the lease is taken.

This is known as a dilapidations claim and can run into thousands of pounds at a time when an organisation may need capital and time to focus on the next stage of their business plan.

Unlike a Commercial Building Survey, a Commercial Schedule of Condition is not a diagnostic report intended to be a detailed evaluation as to the defects, remedial works and future maintenance issues.

It is a written tabulated schedule that sets out the condition of the building element by element, area by area and is accompanied by comprehensive photographs and is used as a benchmark of the condition at the time a lease is taken. The value of this is in providing documentary evidence of the condition at the start of the lease.

For an Landlord who has invested in bringing a property into good tenantable condition prior to letting, with a tenant that has not maintained the building, it will help you to justify and resolve a claim for dilapidations at lease end. This can save time and money in resolving alleged disrepair and associated legal fees.

This is essential for you as a prospective tenant who will have a liability to hand the building back in it’s original condition at the end of the lease term. It will help limit and resolve issues of liability for alleged disrepair or alterations at lease end. Again, saving time and money. With input from your solicitor it is advisable to seek to negotiate that the schedule be appended to the lease with a clause that requires that the building be handed back in no better condition than as set out in the schedule.

A Commercial Schedule of Condition can be carried out instead of a Commercial Building Survey or, where the benefit of both is relevant, they can be carried out in tandem.

If you are the current owner of a commercial property, or are proposing to purchase or enter into a lease, and need advice with recommendations in respect of the condition of a commercial building please contact us today for a quotation.

You can get an idea of how useful our clients have found our survey reports to be by viewing some of their comments on our Trustpilot reviews page.

RELATED BLOG POSTS

The Great Stamp Duty Gamble

Budget day has been announced for March 11. Will the Chancellor go ahead with the 3 percent surcharge on non-resident properties? Will he realise the Prime Minister's pledge of removing the stamp duty (SDLT) burden from buyers of properties below £500,000? What about the possible cut in the current 10% paid between £925,000 ... Read More >>

UK Housing Market gets Boris Bounce

The recently published RICS Residential Market Survey has found that the Conservative's December election victory is now translating into positive effects. In its report,  17% of RICS members reported rises as opposed to falls in buyer enquiries. In addition to this, 31% of members expected transactions to rise over the next ... Read More >>

Selling Your Property Privately

Selling your house typically involves placing it on the open market with an Estate Agent where there are thousands of potential buyers. But what if you are not offering your property up to all these buyers? What if you are selling privately to another individual, perhaps even someone you who or a family member. Estate Agent or ... Read More >>

read more posts
Call Now Button