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Most modern building leases contain covenants which define the obligations and repairing liabilities of the respective parties to the lease.
Dilapidations may arise where either party fails to meet their obligations under the terms and conditions of the lease, for example a landlord requiring a building to be returned to a good state of repair either during or at the end of a lease. Alleged breaches of the covenants are itemised in a Schedule of Dilapidations which may be served on the other party and will subsequently form the basis of negotiations.
Good negotiating strategies and a working knowledge of the legal principles governing dilapidations and expertise in valuations and estimating are essential to avoid unnecessary costs and disruption.
At Banco we are able to advise on all aspects of dilapidations including preliminary advice to ascertain the principal elements involved and to determine reasonable objectives for each client. We carry out inspections of premises and preparing Schedules of Dilapidations and negotiating with surveyors acting for the other party and proceeding through to litigation.