A schedule of conditions provides a benchmark against which the condition of a property can be assessed to help mitigate future damage claims. This process applies to both commercial and residential properties – where landlords and tenants need to protect themselves and their interests.
What is a schedule of conditions?
A schedule of conditions is a written and photographic record of the condition of a property on a particular date. The schedule is typically used in commercial real estate transactions and can be used for legal or contractual reasons. The schedule can resolve disputes between parties if there are changes to the property during the course of the project.
The general description included in the schedule should be a fair reflection of the property, including any existing conditions that could impact the project. This might include things like environmental hazards, zoning restrictions, or easements. It’s important to be as specific as possible when creating a schedule of conditions so that there is no ambiguity about what is included in the scope of the project.
If there are changes to the property during the course of the project, the schedule of conditions can be used to establish responsibility for those changes. For example, if a tenant makes changes to the property without the landlord’s permission, the landlord can hold the tenant accountable for any damages that occur.
The schedule of conditions is an important tool in commercial real estate transactions and can help to avoid disputes between parties.
When should I create a schedule of conditions?
A schedule of conditions should be created before work begins on a construction project. This will ensure that all parties are aware of the existing condition of the property and any potential risks that might impact the project.
Why do I need a schedule of conditions?
A schedule of conditions is often used in construction projects to document the existing condition of a site identified prior to work beginning. This information can be used to track changes to the site during construction and ensure that any damage is properly accounted for. In some cases, a schedule of conditions may also be used to document the condition of a property for insurance purposes, often accompanied by photographic evidence. Or, if a neighbour is undertaking a renovation project on a shared wall – they need a schedule of conditions with a party wall award.
What are party walls?
A party wall schedule of condition is a document that records the condition of a shared wall between two properties. This can be useful when one property owner plans to make changes to the wall that could potentially affect the other property, such as carrying out repairs or renovations. By having a schedule of conditions in place, both parties can agree on the condition of the wall before any work is carried out, avoiding any disputes that could arise afterwards from the other party.
When creating a party wall schedule of conditions, it is important to be as detailed as possible in order to avoid any misunderstandings. The document should include information on the dimensions of the wall and its materials, and any existing damage. After a thorough inspection of the property, photos or sketches can also be included on the factual record. Once both parties agree upon the schedule of conditions, it can be used as a reference point should any disputes arise in the future.
How much does a schedule of conditions cost?
Preparing schedules typically cost between £500 and £1,000 in the UK. The cost will depend on the size and complexity of the property, as well as the number of rooms and areas that need to be surveyed. It is often worth paying for a more comprehensive survey that includes a schedule of conditions for a large or complex property. This will give you a more accurate picture of the property’s condition and could save you money in the long run.
What should a schedule of conditions contain?
The schedule of conditions should be reviewed and approved by all parties involved in the project before work begins. Once the schedule of conditions has been finalised, it should be attached to the contract to be referenced throughout the duration of the project. This will ensure that everyone is aware of the conditions and can plan accordingly.
The report prepared by a chartered building surveyor or professional engineer. Chartered surveyors provide an accurate comparison to be made after construction is completed in order to verify that any changes are due to the work that was performed.
There is no set formula for a schedule of conditions. But generally, it should include:
- A description of the property, including its location, size, and boundaries
- The existing condition of the property, including any existing structures or features
- Any easements or rights of way that exist on the property
- A list of any permits that have been issued for work on the property
- Any other relevant information about the property
Contact our commercial property surveyors in Manchester today.