Schedule of Condition
What is a Schedule of Condition?
A Schedule of Condition (SoC) is prepared prior to the completion of your business lease and is a detailed record and a comprehensive examination of the building or premises. Entering into a lease binds you to contractual obligations in relation to maintenance and repair issues. Commissioning a Schedule of Condition means you are protected from these costs further down the line. One of our qualified surveyors will examine your building, record their findings and provide a comprehensive report detailing :
- the full description of each item in the property including it's condition and location
- the materials the property is constructed of
- site and situation of the property
- and providing supporting evidence such as plans, photos or videos
Why have one?
The best way to think of a Schedule of Condition is as an insurance document. It is overlooked by many but can save a tenant hundreds, or even thousands of pounds in repair costs. If a Schedule of Condition is not carried out then tenants can be exposed to unnecessary costs for defects that existed at the start of the lease.
It not only acts as an insurance report but can benefit you in more ways than one. If a tenant is aware of problems in advance it can put you in a stronger position when negotiating a new lease with a landlord. From this, you may be able to negotiate a cheaper rent or even a longer lease; whichever suits you best.
If you need any advice on obtaining an SoC, then please get in touch and we will be happy to go through the implications of an SoC in more detail, including how it is placed within the context of your business lease and it's impact at the end of your lease.
For any more information please ring our office on 0113 286 7006 or use our contact form.