Why A Schedule of Condition Report Is Essential



A Schedule of Condition report can be drawn up for both commercial and residential properties and can be commissioned by either the letter or the tenant. As inferred by the name the report records the condition of a property and is used as a basis for the tenancy contract and protects the interests of both parties.

A chartered building surveyor will prepare comprehensive condition reports by undertaking a thorough survey of the property with the report stating the exact condition together with any issues or problems.

Unlike a Dilapidation Assessment the Schedule Of Condition Report is undertaken prior to the commencement of the lease. Depending on the terms of the tenancy the tenant is usually responsible for repair and maintenance of the property with most commercial properties covered by a full repairing and insuring lease.

As mentioned earlier it is in the interests of the tenant as well as the landlord to complete a Schedule Of Condition Report as the tenant may be liable for any repairs even if the property is not in good condition at the commencement of the lease.

Similarly the landlord will want to ensure that the property is returned in the condition is was when it was leased so that the next tenant can be moved in straight away. In those cases where property needs repair the report will be the landlords main weapon when he makes a dilapidation claim against the tenant.

In this case the report is essential as it details the exact current condition of the building both internally and externally. It is this report that the property is checked against when the lease is nearing its completion date.

As an owner, or prospective purchaser, it is of course always essential to have an accurate ACAT assesments sydney  of any property especially if you are planning renovations or development work in the future.

A condition report will help identify problems now that, without pre-emptive work, could well become very expensive issues in the future. With all buildings unforeseen problems discovered during renovations can prove to be very costly for the developer.

Issues such as damp may also be wrongly diagnosed and result in remedial work being undertaken unnecessarily and at a heavy cost.

All these issues and risks can be minimised by approaching a chartered building surveyor and commissioning a Schedule of Condition report as it is certainly in the interests of all parties to a lease that a thorough survey is conducted before any paperwork is signed


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