Landlords and tenants of leasehold properties invariably have differing objectives. Increasing focus on tenants’ needs as customer’s means that achieving the “right” result at each lease stage, whatever side of the divide you may be, is a demanding process. It requires a good understanding of written agreements, sound technical knowledge, a commercially-focused approach and expertise at the negotiating table.
Dilapidations issues most commonly arise when a tenant fails to comply with its contractual leasehold obligations. The complexity of buildings coupled with the difficulty in interpreting leases has spawned countless disputes and court cases, which can make the business of determining exactly what liability exists a demanding one.
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Tenant alterations are usually carried out under a “Licence for Alterations” – a legal document annexed to a lease which sets out the reinstatement requirements at lease expiry. Badly drafted, however, these licences can provoke some of the most significant and contentious disputes between landlords and tenants. Being established experts in dilapidations we know that dealing properly with alterations at the time they are carried out can significantly reduce the scope for dispute for both parties.
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Condition records benchmark the condition of a property at a given date. They are used to limit landlords’ and tenants’ repairing liabilities in leased property or provide a record to enable damage to be identified when construction works are undertaken by neighbouring owners. Our depth of experience in dilapidations and party wall work provides a unique understanding of the importance of an accurate schedule.
Planned maintenance schedules (PMSs) identify and quantify a programme of works to a building’s fabric and services, over a number of years, to ensure that its condition/value is preserved or increased. Properly thought-out, they are indispensable to good estate management, benefitting both owners and occupiers.
Under the current Planning & Building Regulations there are a number of areas that landlords and tenants maybe require to comply with.
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Information on the structure and fabric of a building is vital to investors, commercial owners and occupiers not just before the acquisition of a property, but also during the ownership and/or occupation of the building and at the time of sale.
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