Dilapidations – Save the Fees of a Valuer! (And Pay Too Much)
Here’s a top tip which illustrates that for business and leisure tenants subject to dilapidations claims, ensuring the settlement sum is minimised requires both the building surveyor and the valuation surveyor. That avoiding the expense of the valuation surveyor’s input is a false economy.
Retail Case Studies
The attached evidences the consistently minimum achievable dilapidations settlement sums we secure for retail tenants, made possible by our unique offering of both Building Surveyors and Valuers, working together from the outset to ensure that the Section 18 (Diminution in Value) cap is applied to optimum effect.
The Dilapidations Protocol & the importance of a Diminution Valuation in dilapidations negotiations
Paragraph 9.4 of the Dilapidations Protocol (the Protocol) could not be clearer:
“…in a case where the landlord has not carried out all the works specified in the schedule…it should provide a formal diminution valuation (DV)…”
How to minimise dilapidations payments for commercial tenants
Commercial property leases will normally include clauses for a tenant to redecorate, repair and leave a property in a certain condition when they vacate at the end of a lease term. If this has not or considered to have not been met, then the landlord will usually make a dilapidations claim.