A detailed Schedule of Condition is vital to protect your investment.
It is imperative to have an accurate, clear and agreed Schedule of Condition for any size of lease to avoid the potential for significant financial loss when dilapidations arise at the end of the term of the lease.
A Schedule of Condition is the only guaranteed way to ensure that the Landlord and/or tenant’s repairing and dilapidations liabilities are minimised by accurately recording the condition of the entire demise at the start of a lease.
A tenant taking on any form of lease should arrange for a condition survey to report an accurate record of the condition of the property and any other items covered under the lease. On termination of the lease, the tenant cannot then be required to put the property into any better condition than that recorded in the schedule of condition at the start of the lease.
As a landlord, a detailed Schedule of Condition report is vital to protect your investment. The report will accurately record the condition of the property to which the tenant must return at the end of the lease.
The condition report, which is prepared by an RICS qualified Building Surveyor and includes comprehensive photographic evidence, is signed by both parties and then referenced to and appended to the lease.
If you are presented with a Schedule of Condition by the other party (whether landlord or tenant), we can check and verify the report to ensure your interests are protected prior to the report being appended to the lease.