Taking the ‘Sting out of the Tail’ at Lease Expiry
Disruption, potential unplanned costs and conflict at the end of a lease due to make good obligations can sour what has been a solid commercial relationship between landlord and tenant. This can complicate the tenant’s move or the re-letting of the premises. The pressures of a poorly set up lease in terms of documentation, understanding of the consequences of the relevant clauses from a technical perspective and agreement as to the condition at occupation, or of future alterations, are self evident for both parties.
Properly qualified building consultants should be actively utilised in such processes due to their knowledge and understanding of leasing and legal aspects combined with their expertise in building conditioning and rectification. The proactive stance is to bring all parties together prior to the signing of the lease to agree not only the terms of occupation, lease and physical condition but also to the process at lease expiry.
If this process has not been followed, the building consultant plays a key role in interpreting the relevant lease clauses and evaluating the property’s condition so to effectively define the make good obligations, the cost and the best method of rectification. Continue reading
Property Reinstatement Cost Assessments – Are your property assets correctly insured ?
Construction costs are subject to constant change, so if you are insured are you confident that you are not either under or over insured in a changing cost market?
Quantity Surveyors are the only construction cost trained professionals that can make sure your assets have the appropriate insurance replacement cost cover.
A Quantity Surveyors purpose is to predict and manage construction costs. They are specifically trained to do so and they don’t value, they don’t build, they don’t design, they don’t buy and sell property. They are independent and professional consultants.
So here’s a quick list of Property Reinstatement Cost Assessments do’s and don’ts : Continue reading
