When Are They Required?
A schedule of condition survey is generally required before the signing of a lease. The survey will determine the condition of the building so that any existing defects can be identified prior to any commitment being made. Schedule of Condition Surveys take the form of text and photographic evidence.
What Is Mentioned?
The schedule of condition surveys includes a report on the condition of the building. Commercial leases usually stipulate that the tenant is responsible during and at the end of a tenancy, so it is vital you fully understand your potential liabilities before signing your lease.
What Is It Used For?
Often a schedule of condition survey can be used to negotiate with your landlord to have immediate defects corrected prior to you taking over the lease. Thus considerable sums of money can be saved. For example, if you taking over an existing then it is highly likely that you will inherit any repair liabilities from the outgoing tenant. At the end of the lease you will have evidence to counter any dilapidation claim made by your landlord.