In these uncertain times the many challenges presented by the ongoing Covid-19 pandemic has seen an impact on the economy and how businesses operate. With the obvious economic impact unfolding and the deployment of staff to home working policy, tenant’s will be considering their strategy for retention and future occupation of properties, looking perhaps at early lease breaks or not renewing leases. Landlord’s might therefore be faced with a tenant vacating early requiring them to manage a re-let.
Whether you are a Landlord or a Tenant considering strategy prior to lease termination, there will be an obligation to deal with Dilapidations to yield up the property in line with lease requirement. This normally involves reinstatement, repairs and decorations of the occupied space in advance of lease end, requiring advance planning to minimise the impact on business operations and financial liabilities.
Baily Garner are a multi-disciplined property consultancy who can assist both Landlord’s and Tenant’s with Dilapidations advice to ensure your organisation considers options to make an informed decision. Within the Dilapidations process Baily Garner can also manage refurbishment works of occupied space to ensure smooth transition and handover is achieved to allow a tenant to meet obligations (when acting for a Tenant) or for a Landlord to re-market the space (when acting for a Landlord).