Pre-Lease Assessment Reports
When trying to secure a suitable premises for their business, there are numerous considerations for Tenants, such as location, access, parking, suitability, transport links, size and cost to name but a few.
In trying to weigh up all of these factors, your legal responsibilities and liabilities as a tenant – such as the building’s condition, maintenance, repairs and potentially dilapidations – can be overlooked.
One step that is always advisable prior to entering a lease is to have a Pre-Lease Assessment conducted on your behalf.
A Pre-Lease Assessment, conducted by a Chartered Building Surveyor, will advise on the condition of the building and its suitability and will identify immediate liabilities and repairs/upgrading works required to ensure that it is suitable to be occupied.
In addition, a Pre-Lease Assessment will highlight any likely maintenance and repair works that will be incurred during the proposed term of occupation, and the anticipated dilapidations responsibilities at the end of the lease term.
Having this information available prior to agreeing a lease enables prospective tenants to enter into the lease with open eyes, and possibly even to negotiate a better deal at the outset. Armed with the information from a Pre-Lease Assessment, a tenant can put in place a long term plan to mitigate liability at the lease end. In some cases, tenants might discover the work required is too onerous or costly, and decide to no longer proceed.
When entering into a lease we strongly recommend that all our clients have a detailed Schedule of Condition prepared and appended to the lease. If appended to and referred to in the lease, it will prove invaluable to reduce your dilapidations obligations at the end of the lease term and mitigate costs.
Lea Hough carry our pre-lease assessments across Lancashire, Manchester, Cumbria and the wider North West. To discuss our services with one of our Commercial Property Surveyors, or if you wish to instruct us to carry out a Pre-Lease Assessment or Schedule of Condition, please contact us.