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> COMMERCIAL PROPERTIES
Schedule of Dilapidations
Seeking legal advice from a qualified solicitor specialising in commercial property law is crucial. They can guide you through the complexities of dilapidations and safeguard your interests.
Understanding Schedules of Dilapidations in Commercial Property
A schedule of dilapidations is a legal document that outlines the disrepair or breaches of lease repair covenants relating to a commercial property. Once a schedule is served it sets out a record of the tenant’s obligations to remedy any disrepair required before vacating the property.
Interim Schedule of Dilapidations:
Prepared during the lease term, this schedule identifies breaches that need remedying while the lease is still in effect. It does not relate to yield-up obligations.
Terminal Schedule of Dilapidations:
Created towards the end of the lease, this schedule lists all necessary repairs and maintenance that the tenant must address before vacating the property.
Final Schedule of Dilapidations:
Prepared after the tenant has vacated, this schedule details any remaining breaches and the required remedial actions.
For landlords, schedules of dilapidations are essential for:
- Ensuring tenants comply with lease obligations.
- Assessing the condition of the property during and after the lease.
- Recovering costs for repairs and restoration.
Tenants benefit from understanding their obligations and planning for:
- Budgeting for repairs and maintenance
- Addressing breaches promptly to avoid disputes
- Negotiating with the landlord regarding the scope of works
Contact Williamsons Solicitors on 01482 323697.
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