Schedule of Condition
SCHEDULE OF CONDITION SURVEYOR (RICS) | PROFESSIONALSURVEYORS.CO.UK
Professional Surveyors specialising in Schedule of Condition surveys producing comprehensive Schedules of Condition for Tenants and Landlords. Get a quick online quote or call 01244 952 289.
WHAT IS A SCHEDULE OF CONDITION AND WHY IS IT SO IMPORTANT?
A Schedule of Condition is a photographic record and written statement that records the condition of a property at a particular date. If a tenant enters into a new lease without having a Schedule of Condition, it could expose them to a potential financial liability costing them tens of thousands of pounds at the end of the lease term.
SCHEDULE OF CONDITION LEASE
Prior to signing a new lease, a schedule of condition is prepared for tenants to record the condition of the building elements and any pre-existing defects that may exist, therefore limiting a tenant's potential dilapidations liabilities.
SCHEDULE OF CONDITION REPORT
A schedule of condition report can come in different formats but essentially, it is a photographic record identifying various defects and is reflective of the condition of the building at the time of inspection. Each photograph should be accompanied by descriptive text making reference to the element, for example a roof, the defect, extent of disrepair and location. A schedule of condition may also include video evidence, a reference plan or drawing if required. It is important to note that the person preparing the Schedule of Condition should be a RICS Chartered Surveyor with relevant experience and expertise in dilapidations matters.
BUILDING CONDITION SURVEY REPORT
Whilst they may be similar in some respects, a schedule of Condition and a Building Condition Survey Report are two different surveys. A Schedule of Condition must be in a format suitable for lease inclusion and solely records the defects and condition of the building elements.
Whereas a condition survey report goes into more detail about the defects, the causes and remedial work required. This is useful for landlords that have assets or tenants occupying premises who want to maintain and implement repairs where required.
Furthermore, a Schedule of Condition report may not aways be appropriate, for example, a tenant signing a 10 year lease on a property that has a roof, which has reached end of its service life with extensive roof leaks could leave the tenant with ongoing repairs and possible renewal of this element to avoid disruption to their business operations. Therefore, the tenant could find themselves financially committed to repairs or replacement of certain elements such as a roof, air conditioning systems etc. that could have been raised prior to signing a new lease.
SCHEDULE OF CONDITION COST
The cost of a Schedule of Condition will depend on the size, type and complexity of the premises. as well the repairing terms set out. For example, if a tenant signs a lease based on Full Repairing and Insuring (FRI) terms, a tenant will typically be responsible for the whole of the premises including the roof, external walls, windows, doors, structure, internal areas and in some cases the external areas such as a car park or service yard areas. Whereas an Internal Repairing and Insuring (IRI) lease means the tenant is responsible for the internal areas only. This will typically relate to offices that form part of a multi-occupied office block..
SCHEDULE OF CONDITION COMMERCIAL LEASE
There are firms who prepare a Schedule of Condition report that may specialise in Party Wall matters or a Structural Engineers and yet they have little to no knowledge or experience when it comes to Dilapidations matters. This is crucial because a Schedule of Condition report must take into account factors other than disrepair or defects such as former tenants alterations that a new tenant could potentially be responsible for removing. This could potentially add tens of thousands of pounds worth of reinstatement works such as removal of former tenant's fixtures and fittings such as partitions, air conditioning systems and mezzanines.
NATIONWIDE - SCHEDULE OF CONDITION SURVEYOR (RICS)
We undertake Schedule of Condition surveys nationwide including Chester, Warrington, Liverpool, North Wales, Manchester, Preston, Stoke, Derby, Leeds, Sheffield, Newcastle upon Tyne, York, Nottingham, Leicester, Birmingham, Coventry, Bristol, Cardiff, Swansea, London, Bath, Oxford, Cambridge, Southampton, Glasgow and Edinburgh | Professional Surveyors