Schedule of Condition
Whether you are a Landlord or Tenant, you may need a Schedule of Condition prepared, in order to best protect your interest in a property that is to be leased.
For a Schedule of Condition to be entirely regarded in dilapidations negotiations, it must be agreed (therefore signed) by both Landlord and Tenant and attached to the lease as that agreement is documented and legally completed.
The Schedule of Condition is prepared by carrying out a full inspection survey of a property. The findings are then set out in a tabulated format, to identify items of disrepair and incorporates photographs (or video footage) as supporting evidence.
The cost of preparing a Schedule of Condition is dependent of the type, size and complexity of any building. However, the cost of the Schedule of Condition is usually a small fraction of the likely savings that will be achieved in dilapidations liability if the Schedule of Condition is not put in place.
Stimpsons Eves would be happy to discuss the specific requirements of either a Landlord or Tenant and provide detailed costings for the provision of a Schedule of Condition.