Shop & Office
Schedules of Conditions or Dilapidations
Both landlords/ tenants need advice. Granting or taking a lease on shop or office premises is a massive commitment contractually and financially. As a Chartered Surveyor I would recommend your first port of call should be a solicitor experienced in dealing with commercial leases.
They will confirm that one of the most onerous parts of the lease is the less obvious repairing clause which can potentially cost thousands of pounds.
This costly situation may occur during a lease as an Interim-Schedule of Dilapidations or at the end of a lease as a straightforward Schedule of Dilapidations, where the landlord can quite legitimately try to make you reinstate the shop or office to that which is recorded in the lease.
Tenants: Do not assume you only have to return the property in the same condition you took it!
Landlords: Safe-guard your position and investment by getting a Schedule of Dilapidations at the end of a lease.
Get a Schedule of Condition/Dilapidation to provide both written and photographic evidence of the shop and office at the beginning/end of the lease, this can be a strong basis for negotiations on assignment, lease-renewal or sale of an interest in a shop or office.
We can also advise you regarding Rent Reviews/Renewals
- Are you paying too much
- Should you pay a premium
- Or get a rent free period
- Full repairing or Internal repairing lease
- Improvements past and present