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SCHEDULE OF CONDITION
Schedules of Condition are now considered common practise because they can be used as evidence to prove the condition of the property at the commencement of the new lease.
This can be useful to limit the tenant’s liability at lease end in terms of the level of repair as well as evidencing the configuration/level of finishes removing uncertainty for both landlords and tenants.
The Schedule of Condition can take different forms but should include a detailed description of the current condition of the property, including any defects, damages, or wear and tear.
It should also include photographs or videos of the property, highlighting any areas of concern. The document should be signed and dated by all parties involved, and a copy should be given to each party for their records.
It is important to note that a Schedule of Condition is not a guarantee of the property’s condition, but rather a record of the condition at a specific point in time. Therefore, it is recommended that PMP Building Surveyors prepare the Schedule of Condition to ensure its accuracy and completeness and to protect you and your assets.
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