12/25/2020 0 Comments Schedule Of Dilapidations
Most people have rented a property at some point in their lifetime. Therefore, it is understood by most that over the course of time it is natural for a property to need proper upkeep in order to continue renting the property out to individuals. As a result of constantly renting a property, there is certain regular maintenance that must be completed. However, some tenants do not adhere to the policies of the property and may cause damage. In this situation, a landlord reserves the right to serve the tenants with a Schedule of Dilapidations. This document serves to inform the tenants of the current damages to the property that have been assessed and to allow them to complete the required maintenance prior to the lease expiring.
The extent of the Schedule of Dilapidations may vary case by case depending on the landlord, tenants, and the damage. There are two main dilapidations that can be provided to tenants. The first is an Interim Schedule of Dilapidations where the current tenants are expected to repair the damages prior the lease expiring. The second type is the Terminal Schedule of Dilapidations. This is where the damages to the property have been assessed and the landlord will have them professionally repaired, in return, billing the tenants at a later time. It is important that a schedule of dilapidations breaks down how the lease was broken in detail. It should map out what repairs the property requires, any redecorating that is needed, and include costs to fix each issues.
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