We have received instructions from Property Managers to prepare a Schedule of Dilapidations on behalf of their Client, the Landlord of the property.
The property is a retail unit in the centre of Dorking and the lease is due to expire in 2 weeks therefore the Tenant is keen to understand their lease liabilities. The Tenant proposes to undertake some of the works included in the Schedule of Dilapidation’s if possible prior to the lease end at which point they are required to yield up the property to the Landlord. In the event any items included in the Schedule of Dilapidations are not completed by the Tenant prior to the lease end then a agreement with the Landlord will need to be negotiated and a financial settlement reached to cover the cost of those outstanding items.
To prepare the Schedule of Dilapidations we reviewed the lease and have arranged to undertake an inspection to ascertain the condition of the property and take necessary measurements and details to allow us to schedule out the reinstatement, repairs, redecoration and statutory obligations in accordance with the lease requirements. These items of claim are then costed and included in the Schedule of dilapidations which forms the Landlords Claim against the Tenant.
We advise both Landlords and Tenants on Schedule of Dilapidations and would always recommend that dilapidations advice is sought in good time prior to the end of a lease to allow all parties to plan for, and reach a settlement on, a dilapidation’s claim.
