Commercial survey
Commercial Building survey
For those purchasing a commercial property a building survey will provide a detailed report on the condition of a building, highlighting any defects, outlining the current condition and advising if any maintenance will be required in the future. The report will state what the building is constructed from, whether that be steelwork, reinforced concrete, traditional brick etc, and point out if any hazardous material, such as asbestos, is present.
Because of the nature of commercial leases, whereby a tenant is often liable for repairs to the premises, a building survey is essential to clarify in detail the condition of the building and its component parts. Suggestions for remedial works may also be given in the report. For tenants, it is important to understand future repair liabilities and how the implications of this can affect lease negotiations and for those wishing to purchase a property, it can assist with the possibility of a lower price being accepted by the vendor.
Schedule of condition
For both owners and new tenants a detailed schedule and description of condition of the building elements from floor to roof together with an extensive photographic schedule to accurately record the condition of the building as a whole at a specific date.
The schedule of condition is generally prepared to accompany a lease at the beginning of a term which will help to reduce the tenant’s potential liability for dilapidations at the lease termination. This has the potential to save thousands of pounds in repairs for which there is no liability.
For property owners who have invested in the refurbishment of their property, a schedule of condition is useful to avoid contentious and costly litigation at the end of a lease, if a tenant has damaged or abused the property in some way, providing documentary evidence of its condition at the start of the lease.