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Why Hiring Chartered Building Surveyors for a Schedule of Condition Survey is Crucial for Commercial Leasing
Friday 10th November 2023
Carl O'Boyle BSc MRICS FCIOB MFPWS
Introduction:
When considering leasing a commercial property, it's essential for tenants to protect their interests by conducting a thorough assessment of the property's condition. This is where the expertise of chartered building surveyors can help, particularly when undertaking a Schedule of Condition survey. We will explore the reasons why it's pivotal to hire chartered building surveyors for this task, focusing on the benefits it provides tenants, particularly during the lease term and when dealing with potential dilapidations.
1. Accurate Assessment of Property Condition:
Chartered building surveyors possess the knowledge and experience to conduct a comprehensive examination of a property. Tayross Associates meticulously document the property's condition, including structural aspects, building services, and any existing defects. This detailed assessment forms a reliable baseline for future comparisons, ensuring tenants are aware of the property's condition before entering leasing contract.
2. Protection against Dilapidations:
One of the significant advantages of a Schedule of Condition survey is its role in safeguarding tenants against potential dilapidations. When a lease ends, landlords may issue a Schedule of Dilapidations, outlining repairs and maintenance obligations. By having a comprehensive Schedule of Condition survey, tenants can refute any claims for pre-existing damage and limit their liability for dilapidations, potentially saving substantial costs.
3. Negotiation Power:
A Schedule of Condition survey carried out by Tayross Associates arms tenants with valuable negotiation leverage. By having a detailed report highlighting the property's condition prior to leasing, tenants can negotiate lease terms more effectively. This can include requesting repairs or adjustments to the lease agreement to address any identified issues, ultimately ensuring a fair and balanced contractual relationship.
4. Protection of Investment:
Leasing a commercial property is a significant investment, and tenants should take steps to protect their interests. By engaging Tayross Associates chartered building surveyors to conduct a Schedule of Condition survey, tenants can identify potential risks and liabilities associated with the property. This allows for informed decision-making, ensuring that the leased property aligns with the tenant's requirements and minimizes any unexpected expenses that may arise during the lease term.
5. Compliance and Due Diligence:
A Schedule of Condition survey conducted by Tayorss Associates chartered building surveyors demonstrates a commitment to due diligence and compliance. It showcases a tenant's proactive approach to understanding the property's condition and complying with lease obligations. This attention to detail can enhance the tenant's reputation and provide peace of mind knowing that they have fulfilled their responsibilities as a lessee.
Conclusion:
Hiring Tayross Associates to carry out a Schedule of Condition survey is a smart move for tenants considering leasing a commercial property. It provides an accurate assessment of the property's condition, protects against potential dilapidations, enhances negotiation power, safeguards investments, and demonstrates due diligence. By engaging these professionals, tenants can make informed decisions, mitigate risks, and ensure a smooth and successful leasing experience.
Remember, when leasing a property, investing in a Schedule of Condition survey is an investment in your peace of mind and protection against potential future disputes.
Contact:
Here at Tayross Associates, Carl and Mike are both Chartered Surveyors with experience in Dilapidations, Planning Matters, Building Surveying, Building Consultancy, Contract Administration, Project Management, Boundary Disputes and Party Wall related matters. They are happy help with any questions you may have regarding the above.
Please visit our 'contact us' page here for contact details - www.tayross.com/contact
Please visit our website here for more information - www.tayross.com
