For properties of all types and sizes, obligations are imposed on both landlord and tenant. A survey can help to reduce claims and/or negotiate settlement on behalf of either party.
Most leases relating to commercial properties in the UK & Ireland contain a number of specific, and often complex clauses obligating the tenant to repair, re-decorate and reinstate alterations at the end of the lease term. These are referred to as 'covenants'.
In many cases, these covenants will place further responsibility onto the tenant prior to handing back their demise to the landlord including, but not limited to firstly putting demise into a good and substantial repair and condition, compliance with statutes and to pay professional fees.
Whether you are a landlord or tenant it is imperative that the lease clauses are being adhered to in order to limit any potential complications when the lease comes to an end.
As a tenant, we would advise early consideration of your liabilities and therefore recommend that you engage early with professional advisors. It is also prudent to procure a Dilapidations Liability Cost Assessment prior to entering into your lease, so that you can offset the liability under specific financial reporting rules.
As a landlord, we would advise a strategic approach to both interim dilapidations (these are issued during the term) and terminal dilapidations (at the end of the term).
The process of dilapidations is very often complex and requires expert input. To understand how we can assist, checkout our process timelines or contact us today.