It is generally recommended to seek advice on the terminal schedules of dilapidations months before lease expiry. In the event of more substantial/complicated claims these may be prepared as much as a year before the lease expiry. In some cases the leases stipulate when a terminal schedule of dilapidations must be served, so whilst protocols should be followed, the terms of the lease itself will need to be considered and every lease is bespoke.
Early dilapidations’ advice allows parties to plan for the inevitable end of the lease. For landlords preparing a schedule of dilapidation’s provides them with an understanding of the condition of the property in conjunction with the tenants obligations. This in turn allows the landlord to make future plans for the building. It is important for landlords to plan for, and make efforts mitigate their loss so early planning is essential.
For tenants, understanding their dilapidations’ liabilities allows them to plan for the works and their costs. A tenant can plan for and make financial provision for the dilapidations in accordance with their lease years before their lease end. Early advice provided to tenants also allows them to consider their options. These options include undertaking the dilapidations works, which can save them costs, as opposed to agreeing a financial settlement with the landlord.
