Dilapidation Schedules are on the UP!
DMP are busy undertaking dilapidation works on behalf of landlords and tenants across a range of sectors.
Dilapidation works are becoming very common where 20-25 years leases are coming to an end. Agreements between landlords and tenants are often discussed and understood far in advance of the lease end date.
Understanding clauses within a lease document and being able to from a schedule which relates to the tenants obligations and landlords proposed use of the building can be time consuming and commonly misunderstood.
Importantly, this is where DMP can help to make the process smooth and straight forward. DMP undertake regular training, via the RICS, to ensure that we are up to date with common practices and protocols. Our experienced Building Surveyors can prepare comprehensive dilapidation schedules for which there are three types;
- Interim schedule of dilapidation – issued during the course of the lease
- Terminal schedule of dilapidation – issued during the last three years to 18 months of the lease
- Final schedule of dilapidation – issued after expiry of the lease
Significantly, a schedule of dilapidation will schedule outstanding reinstatement, repair, decorations and other legal compliance items, in some cases, the estimated cost of those works.
Contact our experts to discuss your lease and how we can assist you.