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Schedule of Condition

A Schedule of Condition is an accurate record of the condition of a property at the start of a lease term. This will assist you, the Tenant’s repairing liability or assist the Landlord in pursuit of reinstating the premises and / or a dilapidation claim at the end of the lease term.

Condition Report for Renting

A Schedule of Condition is an accurate record of the condition of a property at the start of a lease term. This will assist you, the Tenant’s repairing liability or assist the Landlord in pursuit of reinstating the premises and / or a dilapidation claim at the end of the lease term.

The Risks

Many Tenants who enter into a lease or licence to occupy premises do not tend to think about what their repairing obligations may be during the lease term and won’t give this further consideration until they reach the end of their occupation.

Sadly, many also fail to understand the repairing liabilities and responsibilities they are signing up to and the likely financial impact, which may be involved in rectifying the premises, back to an agreed condition. It may not be at the forefront of a Tenant’s thinking to assess these likely cost implications when they vacate premises, but unfortunately this can often prove to be an expensive error.

Without having proper documentation in place, it can prove very difficult for either party to establish what condition the premises were in at lease commencement, let alone several years later at the end. If parties are unable to reach a settlement the matter can take many months, if not years, to resolve and at a great cost, especially if the matter is referred through to the Courts.

What’s the level of detail?

Depending upon the client’s requirements, the Schedule can record the asset’s principal features only, or may be prepared to a very high level of technical detail. It may be drawn-up for a variety of purposes.

A Schedule will usually be a document with photographic evidence of the condition of the property at the outset, accompanied by a description of conditions or specific items within the premises. It will identify any defects or where any obvious visible changes have already been carried out by the present owner / previous Tenant against any agreed alterations.

If you are considering entering into a commercial lease and require further information and advice on Schedules of Condition, please do get in touch and email us at info@stonesurvey.com or call 0203 355 5045.

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Frequently Asked Questions

  • What is a Schedule of Condition?

    If you are completing a lease of a commercial unit, this a photographic report that is designed to be attached to the lease to record the condition of the property upon your commencement date.

  • Why do I need one?

    If you have a schedule of condition this will protect you against unscrupulous landlords trying to make it your liability to pay for repairs and defects that were present prior to your occupation.

  • When do I need to have this done by?

    Prior to signing the lease.

  • Is it hard to sell a house that has had subsidence?

    The level of severity will determine how much subsidence devalues a property, but generally speaking, you could find that it decreases the market value of your home by as much as 20%. To find out how much your property is worth, you'll need to organise to have it valued by an estate agent.

  • Do surveyors check the roof?

    Does the surveyor check the roof? Your surveyor will examine the exterior of the property from ground level including the chimney stacks and roof coverings. However, in some circumstances you may wish to commission a specialist roof survey.

  • Can you lower the price after offer accepted?

    It is common for buyers to negotiate their agreed price after the initial offer has been accepted. Most properties are “Sold Subject to Contract”, meaning the property transaction is not legally binding. On the other hand, sellers are not allowed to alter the asking price once they have accepted an offer.

FREE Pre-Purchase Property Advice

I can provide you with FREE advice prior to making an offer and even prior to viewing a property. Many clients find this to be an invaluable service that can assist them from the beginning. This can help you now in making sure that you do not overpay for your property at the start.

Additionally if you have a surveyor on board prior to making an offer, this shows the sellers and the agents that you are a serious buyer and your offers will be taken more seriously.

Save time and money now with a free consultation and be given the opportunity to negotiate now to protect your self against, unwanted shocks and surprises.

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