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ACTING EARLY CAN SAVE MONEY ON END OF LEASE COSTS

KWB Commercial Property Consultants

If you lease office or manufacturing space you can save money, and budget accurately for repair works required at the end of your lease, if you assess your likely bill for repairs and reinstatement at least a year in advance.

To do this, you will need to engage a building surveyor to assess the cost of dilapidations well before the end of the lease.

Dilapidations costs for tenants to repair, reinstate and decorate the premises at the end of a lease can run into many thousands of pounds, even if they have a Schedule of Condition which documents the state of the premises when the lease started.

A dilapidations bill is often unexpected as well, as tenants are focussing on their new premises.

Having an early assessment means tenants are not caught out and are in a good position when it comes to negotiating the final bill with the landlord.

Acting early also means that tenants can consider undertaking the work themselves where even bigger savings can be made.

A building surveyor can help here too, by putting together and managing a costed programme of works.

Further information is available from Akim Kamangira on tel. 0121 233 2330 or by email: akamangira@kwboffice.com.