How to Keep Office Dilapidation Costs to a Minimum
Office dilapidations can be an expensive and exhausting task; if you’re a company owner and at the end of your commercial lease, you will probably be making all the necessary preparations for the big move.
We are here to help. Our fully-managed office dilapidations service is cost-effective and will take the pressure off. In addition, we can help by working with landlords and tenants to deliver a solution suitable for all. If, however, you’re thinking of going it alone, here are some tips to help reduce the cost.
Read the small print of any lease agreement
Before entering a lease, understand the terms proposed, make sure they are relevant to office dilapidations. Terms should include:
– Covenants to comply with statute
The covenant is an important factor, especially when considering office dilapidations; it will help you prepare for any potential repair bills. However, always remember that these terms are negotiable. You should also inspect the office and ensure that document descriptions are accurate. If you’re not sure, make sure you run the terms of the proposed lease past legal advice.
Seek legal advice
We suggest that you always seek legal advice from your solicitor; they will help you read over your lease and appoint a surveyor to look over the office space. Even though the service costs, it could, in turn, save you money in the future. Ensure you understand your liabilities and that the terms set are fair.
Schedules of Condition
The schedule of condition report is a detailed record of your office lease; its primary focus is to record your lease’s condition, which is retained for use in the future. This report should be prepared by a surveyor, and will contain images of the property and any defects. The schedule of condition provides beneficial evidence regarding the state of the office before the lease is agreed to.
Quite simply, don’t be afraid to negotiate. However, make sure you are happy with the terms and any office dilapidation schedules.
Budget for dilapidation costs
Unfortunately, you will not find out the actual cost of office dilapidations until you near the end of your lease. If you’re ill-prepared, and have not set aside a budget for the work, you could find yourself in financial difficulty. Make sure to estimate your office dilapidation costs at the beginning of the lease, and ensure you set aside a budget!
Make sure you give yourself enough time to make any repairs before your lease is over. Take into consideration the amount of time needed to carry out any repairs and alterations in accordance with your office lease agreement.
Office dilapidation issues can be complicated, so if you’re struggling to meet the demands of your office dilapidation clause, why not appoint an commercial office fit out company to carry out the work for you. Here at McFeggan Brown, we have decades of experience in working with businesses as their chosen office fit out company; we will work closely with you to ensure the entire process runs as smoothly as possible. Contact us today to find out more about our full turnkey office dilapidations service.