Dilapidations

dilapidations

Landlord or Tenant, the key to be aware of your liabilities, don’t wait for lease expiry.  Working with CEOs, FDs and Property Managers we provide a ‘Pre-Lease’ liability assessment, quantifying a day one liability. This excise is often used at negotiation stage and will often result in an increased incentive from the LL, a Schedule of Condition, capital contribution or the Landlord completing works pre handover.

We regularly work with FDs and accounting departments during the lease term to undertake dilapidations liability assessments, which allows businesses to make a provision for dilapidations within their annual profit and loss accounts.  Funds can then be set aside and we can then formulate a strategy, agreeing the preferred settlement route.

If a terminal dilapidations has been received, or lease expiry is nearing, we have the knowledge, expertise and proven track record of successfully negotiating dilapidations settlements on behalf of tenants. We are currently achieving average reductions of circa 75%.  In some instance we may consider that Section 18 (1) valuation and advice is required to demonstrate and limit a Landlords loss.

Testament to our skill and ability in this area, we are proud to act as retained surveyors for a number of national investors, Landlords and Tenants. Whether it is undertaking notional dilapidations assessments for investors, which can be used to negotiate a reduced purchase value or preparing interim or terminal schedules of dilapidations seeking to protect the Landlord’s reversionary interest we can help.