Commercial Dilapidations in the Real World
Landlords want to preserve and protect their property and rental interests, the tenant wants to protect their business from the ravages of recession and economic uncertainty. This virtual seminar considers the issues of dilapidations in the present economic climate. It is aimed at property managers, and surveyors generally, whoever they represent.
|22 April 2021||Virtual Seminar||£75||BOOK|
Note: All prices are to be paid in GBP and are subject to VAT at the prevailing rate
With low tenant demand, a tenant in occupation is a valuable asset. They have a strong bargaining position. Landlords have the dilemma of exacting the full repairing and service charge obligations which could force tenants out of business, or negotiating a compromise. Given the difficulty of re-letting and the inducements necessary to do so, empty rates liabilities, and lost rent, is it better for landlords to retain the existing tenant than be left with an empty property? And if the tenant does leave at lease end, dilapidations will be pursued vigorously.
Therefore dilapidations is a matter of negotiation. The strategy adopted by each party is dependent upon the strength of their case, a judgment on the future state of the market, and the lettability of the property. It is critical that any case is prepared thoroughly and accurately before any negotiation takes place.
- Mark Shelton, Commercial Property Management Law Trainer, CPM Law Training Limited and Author of 'A Practical Guide to the Law of Dilapidations' and 'A Practical Guide to Applications for Landlords' Consent and Variation of Leases'
- Jon Rowling BSc (Hons) MBA FCIARB FRICS, Technical Partner, Tuffin Ferraby Taylor (TFT)
- Shorter leases and more limited repair obligations
- What terms are tenants looking for?
- The demise of dilapidations
- Strategies for minimising risk for both landlord and tenant
- Leaving the property better than you found it
- Schedules of condition and the alternatives
- VAT - Dilpidation payments will be subject to VAT (1 March 2021)
- Other relevant lease provisions
- Self-help and the leasehold property (Repairs) Act 1938
- Carbon emissions
- Energy White Paper
- Mid-term and lease-end remedies
- s.18 and diminution in value
- s.18 and supersession
- What is the landlord's goal, a repaired building or a finical settlement?