You should never agree to a lease on a commercial building before a schedule of conditions has been drawn up. A Schedule of Condition is designed to document the state of a building before a tenancy begins and can help you to avoid disputes with your landlord later. It features text and photographs and is used to report either the internal and external state of a building or both. Talk to us today if you’re looking for office space in Covent Garden and need to obtain a Schedule of Condition before you sign a lease. We can help you whether you’re planning on staying in a building for a long or short period of time.
There are two types of commercial lease. Let’s take a look at them right now.
- FRI (Fully Repairing and Insuring): This means that tenants are responsible for keeping the exterior and interior of a building in good condition
- IRI (Internally Repairing and Insuring): With this type of lease, a tenant only holds responsibility for the interior of a building. The landlord is in charge of the exterior.
You are most likely to see the value of a Schedule of Condition when a tenancy comes to an end. This is when most disputes between landlords and tenants arise, but they can generally be resolved when there is a Schedule of Condition to refer back to. Talk to us today to arrange a Schedule of Condition to protect yourself from false accusations later.
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