Lease Area Survey

1. Planning to Lease A Property? How Surveyors Can Help geosurv03.simplesite.com Other than purchasing a home, leasing a commercial property is also a big step for anyone as it involves investing a huge amount of money. Thus, conducting your research & gathering all the necessary information before making a deal is important. In this article, we discuss how surveyors like a commercial building surveyor can help make sure that the property you plan to lease is a good one. We’ll also tackle their role after a lease. Before the lease When it comes to leasing a property, surveys provide critical data that can impact negotiations between the lessor/landlord & lessee/tenant. That said, the surveys involved are usually more detailed than those of a residential one. Particularly, in commercial building surveying which is done before a lease, the current condition of a property is checked. It also shows the materials used to construct the building. Moreover, it reveals any presence of toxic or hazardous materials like asbestos. Given the nature of most commercial leases where lessees are reliable for repairs during the effectivity of a lease, commercial building surveying is important. You’ll be entering the agreement without any surprises related to any repairs needed later on. Additionally, it helps determine if the agreed price is reasonable. Another way that surveyors help you when entering a lease is through a Schedule of Condition (SoC). Similar to a building survey, this records the condition of the property. The survey’s report contains photographs & details any tests conducted during the inspection. It is recommended to have the SoC appended to the lease & seek legal advice to guarantee that it is legally binding. Doing this protects you from dilapidation claims by the lessor later on as it shows in detail the condition of the property at the start of the lease. After the lease 1/2

2. Speaking of dilapidations, a Schedule of Dilapidations survey is usually carried out for a property owner at the end of a lease. It acts as the basis for repairing obligations of lessees as they’re required to restore the property to its condition at stated on the lease. For example, if the survey shows that cracks in a wall are present, repairing these will be your responsibility. However, if the Schedule of Condition conducted before the lease shows that the crack was already present, you have no responsibility to fix it. How to get hold of a surveyor? A quick search on Google will show you a long list of surveyors. On that, not everyone specialises in commercial property surveying. So, to make sure you find the right one, type in “commercial surveyor near me” or “commercial building surveyor”. Typing in “commercial surveyor near me” will show a list of surveyors near you who specialise in property valuations, among others. Searching for commercial building surveyors will give you a list of surveyors who conduct building surveys & inspections. Summary With everything that’s been discussed, it is evident how surveyors like a commercial building surveyor can help make sure the property you plan to lease will be a good one. Furthermore, they also aid in ensuring that the lease will be favourable not just to the lessor but also to you. That said, hire a surveyor with in-depth knowledge & a good track record to best guarantee these. 2/2