- Are the clauses which cover you future repair obligations fair
- If the condition of a rent-free period (at the commencement of a lease) is undertaking repairs to the property, what will your liabilities at the end of the lease be
- Are the clauses relating to redecoration and repair fair and commensurate with the age and condition of the property
- Make a detailed record of the condition of the premises at the outset, as this will minimise your dilapidations liability in the future – normally called a ‘Schedule of Condition'. This MUST be appended to the new lease to provide a restricted lease end liability
This factual record is a benchmark which has significant legal and contractual value, especially in any future dilapidations related claims by, or negotiations with, the landlord.
Understanding your future dilapidations and repair liabilities is critical to any cash flow and financial planning, which is why it’s imperative to be clear you know what your commitments are throughout the term of the lease and at lease end.
Seeking specialist input will resolve any ambiguities.