Interim Schedule of Dilapidations
Managing the condition of a commercial property throughout a lease term is crucial for landlords and tenants. Management of Dilapidations liabilities during the lease term helps ensure compliance with lease obligations, potentially preventing costly disputes at the end of a tenancy. At Vickery Holman, we can provide advice that can help mitigate risks, advise on strategies to manage liabilities, and safeguard property values.
Management of dilapidations during the lease term is referred to as Interim Schedule of Dilapidations and is typically served if a landlord is concerned that proper maintenance in accordance with the lease term isn’t being carried out. The aim of the Interim Schedule is to remind the tenant of their obligations and clarify what’s expected – thereby helping to prevent significant deterioration to the building and protect the value of the property. It also protects the tenant from higher repair costs further down the line.
Who requires management of dilapidations during the lease term?
Early engagement in management of the dilapidations is essential in situations where:
- Landlords need to ensure their property is maintained according to lease agreements as failure of the tenant to comply with lease covenant covenants could result in a diminution in value. Typically, this will result in an interim schedule of dilapidations being produced.
- Tenants will want to track their obligations, budget for repairs, and prevent large dilapidations claims when vacating a property. A pro-active tenant will be undertaking Pre-planned maintenance schedules to ascertain the works required or will be required to undertake the works identified in the landlord’s interim schedule of dilapidations.
- During Lease Negotiations, effective management of the lease covenants can help set realistic repair obligations and avoid disputes later.
The Benefits of managing dilapidations during the lease term
- Cost Savings – For the tenant, identifying maintenance issues early prevents costly repairs and legal disputes.
- Clear Lease Compliance – Ensures both landlords and tenants understand and meet their lease obligations.
- Risk Mitigation – Reduces the likelihood of disputes and unexpected financial liabilities at lease end.
- Planned Maintenance Strategies – Helps tenants budget effectively and landlords programme works and landlords plan works in which costs may be recoverable through the service charge. .
- Independent, Expert Insight – Our experienced surveyors provide impartial assessments to support fair resolutions.
Why Choose Vickery Holman?
With decades of experience in property surveying, lease advisory, and dilapidations, Vickery Holman offers comprehensive tailored to landlords and tenants. Our team ensures that lease obligations are met, risks are minimized, and property investments are protected.
For professional Dilapidations during and at the end of the lease term that helps you avoid disputes and control costs, contact Vickery Holman today.
