Knight Frank Australia’s RICS qualified Building Consultants are considered the independent experts in all matters related to preparing and negotiating Schedule of Condition Reports to support our clients reduce the potential of dispute and associated costs at the termination of their property lease.
Our key services include:
- Reviewing legal agreement(s) to assess the context of the report and nature of the documentation required
- Inspecting land and buildings that form the premises
- Preparing a detailed Schedule of Condition report recording the condition of the premises and identifying all defects
- Arranging for agreement of the Schedule of Condition report between relevant parties and facilitating formal execution of the acknowledgement page.
What’s a schedule of condition report & what’s involved?
- During lease negotiations, it’s increasingly common for landlords and tenants to engage a qualified Building Consultant to prepare an independent Schedule of Condition to be agreed by all parties.
- The Schedule of Condition report is a detailed record of the land and buildings forming the leased premises at a specific point in time. The Schedule of Condition contains text describing the nature and condition of the premises, identifies any defects and includes a schedule of photographs. In certain circumstances, there may also be an asset register that forms part of the Schedule of Condition.
- The Schedule of Condition is then agreed between parties, signed to confirm agreement and attached to the lease as a record of the premises at the time of lease commencement. To have any legal substance, the Schedule of Condition must be explicitly referenced within the body of the Lease Agreement.
Talk to an expert today about how we can help with your make good needs.