A Schedule of Condition is a record of the existing condition of a property or asset at a particular moment in time and the amount of information contained in the document will vary depending on the client’s specific requirements. Schedules of Condition are commissioned for a variety of reasons, the most common of which are:
To be appended to a lease at the commencement of the term and which may be relied upon in dilapidations claims.
To record the condition of a property prior to undertaking alterations.
To record the condition of a property prior to works being carried out on neighbouring land.
In conjunction with Party Wall Awards.
At Peacock Stevens we have developed a system that prepares Schedules of Condition on an item-by-item written report describing the elements of the building and their condition with photographic and video recording evidence.
In addition to the above, we also undertake a Pre-Lease Surveys which are designed to advise the ingoing Tenant of their likely maintenance liabilities over the term of the lease and if relevant, identify items of risk which should ideally be negotiated out of the lease.
Peacock Stevens was appointed by the owners of the above property to inspect the property and provide a detailed Schedule of Condition ahead of a potential sale and leaseback.