In this section
Instructions were received from the Landlord of a retail property to prepare a Schedule of Dilapidations (a formal report that provides a precise breakdown of repairs that must be scheduled to reinstate a property to its original condition as stated in the lease agreement).
Our Building Surveyor’s Schedule (a document which is sent to the tenant which sets out details of the landlord’s dilapidations claim and costings) was prepared for a total sum of £27,000.
The Tenant produced a response stating the claim should be nil due to Diminution (refers to loss of value).
From liaising with the Landlord’s letting agent, we concluded that the former Tenant was correct and certain works would not impact value – removal of fixtures and fittings for example which were likely to retain.
However, our own Diminution concluded that the main works would still be value affective including external repairs and decoration and internal repairs.
As a result, a settlement of £17,000 was reached.
By agreeing on a swift settlement we were able to secure funds for the client to enable him to take steps to better present the property in order to secure a new letting.