What Are Dilapidations?
When you sign a lease on an office space, you agree to be responsible for that space, and agree to hand the space back to the landlord at the end of your lease in the same condition as when you signed the lease (unless agreed otherwise).
Any required repairs to bring the office space back to its original condition are known as Dilapidations and you as the tenant are responsible for the cost of this.
Not all leases have a Dilapidations clause.
If the landlord thinks your fit out adds value to their property, or if the space is due to be refurbished or redeveloped on your exit, then the landlord may agree for you to leave the space as it is.
As your Lease Expiry approaches on your current office and you start the process of acquiring a new office, you should factor in the time needed to complete the Dilapidations before your Lease Expiry Date.
Depending on how large your office is, and the level of dilapidations work required, we suggest you provide your business enough time before your lease break/expiry to move out and conduct these works and get the landlord confirmed sign off at each and every stage.
One One One Can Help With Dilapidations
When we advise on your new office acquisition, we will provide you with a Project Plan and this timeline will always factor in the time needed for these Dilapidations works on your current office.
One One One can advise and act on behalf of tenants in Dilapidation matters.
We will manage the whole process for you, from agreeing on tenant-friendly Dilapidations clauses in your Lease from the start, to helping you Project plan and budget for doing the works at the end of your lease.
About One One One
One One One are a London commercial property company who only ever act for tenants.
As a business, we were formed to make UK companies stronger through their real estate decisions. The success we have achieved to date is by providing a service that is aligned with our clients.
We believe that our values are imperative to how we conduct business and run our company. They are the building blocks of our culture, and they support our common business principles and our people. They form part of all our decision making in everything we do.