Condition Reports and Dilapidation Reports have many applications in the commercial property field including;
- to qualify Lessor and Lessee fittings for the purpose of make-good/reinstatement at lease end
- to determine fixtures and fittings included under the terms of a contract of sale
- to qualify Lessor and Lessee fittings for market review and rent determination purposes
- to outline Lessor and Lessee fittings for depreciation schedules
- can be carried out for use in legal proceedings (where a report was not carried out prior or a more recent report is required
- as evidence to insurers to help reduce premiums
TCRC provide a highly detailed and impartial account of the physical appearance of a property's fixtures and fittings. Digital photographs are incorporated into each report for the provision of clear, concise evidence.
Each report represents the physical facts which serve as an invaluable tool when negotiating make-good obligations at lease end. Lessors and Lessees may have different recollections of the original state of a property and disputes over "make-good obligations" are difficult to mediate without evidence. These disputes tend to usually result in escalating Lessor and Lessee legal costs.
You may require a condition report prior to Tenant works being undertaken at the property to ensure both parties have a perfect understanding of their make-good obligations.
Our reports will provide a clear description of a sale property and will ensure all fixtures and fittings included in the purchase price are provided when taking possession of the property at settlement. This is especially pertinent when purchasing a vacant property or a property with a lease-back provision. Conditions of debate can include loss of fire equipment, broken windows and graffiti or the remainder of a worthless fit-out.