If you are taking a Lease on an office, shop, factory or other business property you will be obliged to keep the premises in good condition and will be required to return the property to the Landlord in good repair.
If the property is of some age, and has been previously occupied, there is likely to be some wear or tear and a number of other defects present which you could be required to repair at the end of the Lease.
The Landlord and Tenant may agree, however, that the property can be given up at the end of the Lease in no better condition than that found at the start of the term. Without a written and photographic record of the condition disputes may arise over the repairs required.
A Schedule of Condition is intended to provide a fair and reasonable record of the condition of the premises at the commencement of the Lease and the accuracy is agreed by both parties to help protect their interests in the property from claims at the end of the Term.
The Schedule provides a detailed record of all elements in the demised premises, their construction and condition and is supported by colour photographs of specific areas or defects.
The agreed schedule must be referred to in the Lease and attached to it to form part of the agreement.
At the end of the Lease the Schedule can be referred to as an agreed record of the property’s condition and the defects or other damage present at the start of the term. The Tenant will only need to repair defects arising from their occupation of the property which reduces costs to both the Landlord and Tenant in agreeing the extent and cost of any repair works.
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