The importance of having a Schedule of Condition taken when entering a new Lease
When leasing a new premise under a Lease for start ups or re-locating purposes, many business owners aren’t aware of the obligations the contract includes; such as repair and maintenance of the premises when signing a Lease.
Although some business owners think they are aware they don’t take the simple preventive step prior to signing the lease, to prevent any costs and expenses on existing wear and tear prior to occupying the premises.
This is where a Schedule of Condition report becomes pertinent, as the report is prepared by a professional and qualified surveyor, meaning that any existing defects are recorded with photographic and descriptive in full extent including floor plans and the condition on the day of inspection. A schedule of Condition report consequently protects the tenant from disputes of not maintaining the property in condition prior to occupancy and any alterations within the layout of the premises.
Without a Schedule of condition none of the mentioned could ever be proved and the tenant would always be responsible for the cost of dilapidations and pre-existing disrepair when your lease comes to end.
A simple report that could be protective for both the tenant and landlord is being circumvented by many and what seems insignificant to eye could cost a fortune in an agreed Lease.
At UNEK Building Consultants, we specialise in carrying out Schedule of Condition inspections and advise that you contact our Building Surveying team for expert professional advice on the condition of your property prior to entering a lease.