If a lease event is on the horizon for your business, taking advice early is consistently the best way to manage cost and risk. Here are five questions worth asking before you get there.
1. What condition were you obliged to hand the space back in?
Your lease will set out the condition you are required to return the space in. It is worth checking this early, rather than assuming, since the obligation can be more extensive than expected.
2. Has anything changed since your schedule of condition was recorded?
If a schedule of condition was recorded when you moved in, compare it against the space today. Any changes, whether from wear, alterations or repairs, can affect what you are liable for at lease end.
3. Have you budgeted for reinstatement, not just repair?
Reinstating a space to its original layout can cost more than simply repairing it. Budgeting for reinstatement early avoids a surprise bill later.
4. Could early advice reduce your dilapidations liability?
A dilapidations assessment carried out well before lease end gives you time to carry out works yourselves, often at a lower cost than a landlord’s claim.
5. Who is managing this for you?
Dilapidations negotiations, and any strip out works, are easier to manage with a single team handling both the advice and the delivery, rather than several parties.
If you are not confident in the answers, our Commercial Occupier Services team, led by Jordan Webb, Associate Director, Building Surveyor, and Jo October, Project Director, Project Manager, can help, protecting your position and your budget.
Why choose Potter Raper
- A RICS-regulated firm: chartered Building Surveyors, Project Managers and Quantity Surveyors giving clear, independent advice.
- Specialists in occupier-focused projects, with expertise tailored to commercial tenants, not only landlords and developers.
- Clear, practical guidance tailored to the occupier’s needs, not generic advice.
- National coverage with strong local insight.
- A single point of contact, giving accountable project leadership throughout.
If you’d like to find out more about our commercial occupier services, email us at occupierservices@potterraper.co.uk.
