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A Schedule of Dilapidations is an important document, carried out by chartered surveyors, that highlight required repairs and maintenance responsibilities at the end of tenancy. The document will cover which repairs are required in order to revert the property back to its original state, mentioned in the lease agreement.
The 3 different types of schedule of dilapidations each have their respective part in managing issues related to repairs through the different stages of lease period, all the way to lease termination.
Choosing which schedule is appropriate for use will be dependent on the situation and how matters are resolved, be it amicably or through legal routes. This article will explore each schedule of dilapidation in more detail, and when they are issued.
What is a Dilapidations Schedule?
Interim Schedule
Also known as a repairs notice, an interim schedule of dilapidations is issued during the course of the lease. The aim of this dilapidation is to ensure the tenant remains aware of their obligations to deal with repair requirements. This step hopes to address any issues before they worsen in attempts to protect the tenant from higher repair costs in the future. In turn, this can also protect the future value of the property.
Terminal Schedule
Terminal schedule of dilapidations can be issued in the last 3 years to 18 months of the lease. This will often provide more detail and be more specific than the interim schedule of dilapidations. It will outline items of disrepair or concerns that need to be fixed before the end of tenancy.
Final Schedule
The final schedule of dilapidations is issued when the lease has expired, and usually covers unresolved repairs. It will include what repairs are required, in detail, as well as the possible addition of cost of lost rent while the repairs are completed.
If there are dilapidations repairs that are left incomplete by the end of the lease, a dilapidations claim may be issued to the tenant. This can come in the form of a Quantified Demand which clearly states the costs of the damages in need of any repair, redecoration or other.
However, before a tenant responds to an issued schedule of dilapidations, it is advisable to assess the validity of all repair obligations stated in the original lease, as well as any quoted costs. The help of a chartered dilapidations surveyor can reduce the risk of disputes between all parties and maintain legal compliance.
Dilapidations Schedule from BPS
If you’re looking for a chartered dilapidations surveyor, or seeking more information about dilapidations, book a free consultation with BPS today, or call us directly on 02083695640.
