Condition surveys, also known as schedules of condition, are a way for landlords and tenants to protect themselves and their interests, by outlining and agreeing the state of a property and any potential repair work which might be needed at the outset of a letting or building purchase.
The benefit of having an accurate schedule of condition is that it provides a benchmark against which the condition of a property can be assessed against, and which can help mitigate future repairing obligations and/or potential claims for damages under legal contractual obligations.
We carry out condition surveys for both landlords and tenants entering into a contractually binding commercial lease or for a potential building owner as part of due diligence at acquisition.
Contact us for a no obligation consultation to see how we can help.
The Benefits of a Condition Survey
Providing documented evidence of the state of a commercial property, schedules of condition form the key basis of the negotiation of any sums the tenant must pay upon the expiration of their tenancy. The benefits of this documentation are significant:
- Helps to settle landlord claims for damages and dilapidations.
- Helps the tenant to show that they’ve left the premises they’ve been renting in the required condition.
- Provides evidence for the landlord to show that damage caused to a property is attributable to the tenants use of the property.
- Prevents tenants from being made responsible for damages they were unaware of at the start of a tenancy, which can have significant financial savings.
- Dated pictures provide photographic evidence to back up claims being made by either party.
To find out more about schedules of condition, read our frequently asked questions.
Mack Rae is recognised as being fully accredited and regulated by the Royal Institution of Chartered Surveyors (RICS).