Regulated by RICS
A ‘Schedule of Condition’ is usually prepared by a Surveyor to advise a client on the overall condition of a property before the client signs any lease agreement which includes a full or limited obligation for the tenant to maintain that property in good repair during the lease term.
The object of the Schedule is to clearly identify by description and photographs the nature and extent of existing defects, disrepair and dilapidation before the lease inception as well as elements which may later show defects during the lease duration.
Being aware of existing problems gives the client a more realistic and accurate picture of the total overall cost of occupying the property over the lease term (ie rent and repairs) and in cases where repairs are likely to be significant, an oportunity to renegotiate the rent, exclude some specific obligations or agree defects being corrected before signing the agreement.
A ‘Dilapidations Schedule’ is used to compare the condition of property elements at the end of a lease with that recorded by the earlier ‘Condition Schedule’ . Both schedules are then used as evidence to agree whether any tenent liability exists in terms of outstanding repairs.
Dilapidation Surveys are often commissioned by Landlords and Condition Surveys by prospective tenants.
Costs
The cost of Surveys is related to the complexity and size of the property and there is no standard fixed charge.
