Schedule of Condition: Frequently Asked Questions
What is a schedule of condition?
A Schedule of Condition is a detailed account of the condition of a property and any potential repair works that may be required at the outset of a letting or purchase.
When renting a property, it is usually annexed to and included within the lease agreement between the Landlord and Tenant to limit the Tenants repairing obligations under the terms of the lease. The condition survey report can be used at a future time to establish the condition of the premises at the commencement of the lease.
How to create a schedule of condition
A Schedule of Condition Report should be prepared by a qualified Chartered Surveyor accredited and regulated by the Royal Institution of Chartered Surveyors (RICS). The surveyor should have experience with the type of property to be surveyed and the condition survey is a detailed visual inspection evidenced by photographs and written descriptions of condition as part of documenting the condition of a building.
How much does a schedule of condition cost?
The cost of carrying out a condition survey and producing a schedule of condition report will depend on the location, size, complexity, and state of repair of the property. To find out more please contact us for an informal chat.
Who carries out a schedule of condition?
A schedule of condition is carried out by a competent and professional Chartered Surveyor, accredited and regulated by the Royal Institution of Chartered Surveyors (RICS). As commercial property Chartered Surveyors, Mack Rae specialise in providing this type of service.
What should a schedule of condition contain?
- Purpose of the schedule of condition
- Location and description of the property
- Time and date of the inspection
- Overall description of the property’s construction
- A note of any specific aspects that have been excluded from the inspection
- Photographs of the property and items of disrepair or condition
- Descriptions of the location and condition of each item inspected
- A record of any existing issues with the property, e.g. cracks, leaks, defects or disrepair, etc.
- A record and advice of any specific tests that should be carried out
What is the purpose of a schedule of condition?
A schedule of condition provides a record of the condition of a commercial or residential property at a point in time.
They are used in a number of situations:
- When entering into a new lease to identify any existing defects (in order to protect both the landlord and tenant)
- For potential building owners as part of due diligence at acquisition
- As a record of a neighbouring property’s condition prior to beginning building works
Mack Rae is recognised as being fully accredited and regulated by the Royal Institution of Chartered Surveyors (RICS). We offer a full range of commercial surveying services including condition surveys.