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Tuesday, February 07, 2012

Schedules of Condition

If you acquire a lease of business premises in the UK you may find that you have accepted a repairing liability which will mean that you have to leave the property in better condition than it was at the start of the lease.


To avoid this, well advised business tenants are now seeking the services of  a property professional to record the condition of premises by means of Schedule of Condition.

 

The purpose of this is to document the condition of the premises as at the lease commencement or alternatively at assignment.  By documenting the condition of the premises at the outset you could be saving yourself a considerable sum of money come lease expiry.

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