When you lease a commercial property, you’re often signing a contract to say you’re responsible for the upkeep and maintenance of a property – both during and at the end of your tenancy. This can be bad news, if you’re unaware of how healthy (or not!) the building was, at the start of your tenancy.
A Schedule of Condition records the condition of a building at that point in time. It gives you peace of mind, prior to signing any lease, as it helps limit your liabilities to only future repairs needed – instead of financially tying you to the defects caused by the outgoing tenant. At the end of your lease you can use the Schedule of Condition, to help limit your liabilities and potentially save you thousands in unnecessary works when served with a Schedule of Dilapidations.
If you’re looking to carry out party wall works, it’s also a good idea to prepare a Schedule of Condition. It can append your Party Wall Award, as a record of any defects and faults to the property, prior to any works being carried out – so both parties of aware of pre-existing damage before the works commence.
We will carry out a thorough inspection of the property, highlighting any immediate defects, along with the associated costs to put them right, as well as noting the potential for any future defects that might need attention. We offer two different Schedules of Condition – Photographic Schedule of Condition or Descriptive Schedule of Condition. If you’ve opted for the Photographic Schedule of Condition, we will take photos of any issues, as well as providing a short description of the condition/defect.
If you opt for Descriptive Schedules of Condition, we will describe the condition/defect. Whichever Schedule of Condition you opt for, it can then be used in negotiations with your landlord to rectify any defects, prior to signing on the dotted line – regardless of whether you’re signing for the first time or renewing your existing lease. A copy of the Condition Survey can then be attached to lease, as a record of works needed and/or carried out.
Whether you’re an investor or asset manager, residential or commercial developer, Institution, landlord, owner-occupier or tenant, we can help you realise your property ambitions and solve your property problems – so why not give us a call on 023 8081 3188. Alternatively, please complete our online form and we will call you back.