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top tips

  • Record the condition of the workplace before you sign the lease – your own ‘Schedule of Condition’

  • Understand the full implications of a ‘rent free’ benefit – in terms of your repair commitment

  • Agree a License to Alter before you start putting your stamp on your workplace - obtaining the landlord’s approval to carry out improvements or alterations first, will prevent any future threat of ‘breach of lease’ claims

  • Dilapidations is an inevitable cost – IFRS16* allows you to allocate your dilapidation costs to the balance sheet

  • Keep the premises in good repair (through proactive maintenance), as it minimises end of lease headaches

  • Exit planning – do it early

  • Consult a qualified Dilapidations specialist – it will prove a wise investment

*IFRS16 is an accounting standard which applies to leased assets and liabilities – including property leases

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