Lease Schedule of Condition
Protect Your Interests Before You Sign
We know a good reputation and strong relationships are essential for successful landlords and tenants. LRM’s lease advisory team make sure both landlord and tenant are on the same page right from the start.
In the Australian commercial property market, the "make-good" clause is often the most overlooked financial risk in a lease agreement. There are may different forms, but usually the make-good obligation requires the tenant to return the property to the condition it was in at the start of the lease agreement.
A professionally produced Schedule of Condition helps the landlord and tenant agree on the condition of the property at the start of the lease. This ‘baselines’ the condition of the property and avoids disputes when the lease ends.
At LRM Property Advisory, we provide a definitive record for your property’s condition, ensuring that when the lease ends, each party’s obligations are clear.
Why a Schedule of Condition is a Non-Negotiable
It serves as your primary evidence to:
Agree Make-Good Liability: Giving clarity of the pre-existing condition of the property.
Agree Fair Terms: Ensures both landlord and tenant are in agreement as to the condition at the time the lease commences.
Avoid Legal Disputes: Provide a reliable record that avoids the "he-said, she-said" and costly legal arguments that can happen at lease expiry.
Our Comprehensive Schedules of Condition
We don’t just take a few photos. Our experienced team conduct a detailed inspection to document the space in detail.
Structural - Cracks in walls, floor levels, and ceiling conditions.
Services - mechanical, electrical, fire services, hydraulic installations and vertical transport (lifts, escalators etc.).
Compliance - Establishing the applicable compliance requirements assessed against the NCC and BCA.
Environmental and Hazardous Materials - Sampling and testing to confirm the baseline of the site.
High-Resolution Imagery - A time-stamped digital catalog of each defect, large or small.
Commentary - To provide clarity where images may not be enough.
The LRM Difference: Professionalism with Precision
We understand that commercial leases move fast. That’s why we’ve streamlined our process to be as efficient as it is thorough.
Fast Turnaround: Receive your digital report within 48 to 72 hours of the site inspection with environmental and hazardous materials testing reports to follow.
Independent Advice: We provide an unbiased, third-party perspective that both landlords and tenants can trust.
Trust built in: We can include forms of agreement and signature blocks in our report as a record of both the landlord and tenant’s acceptance of the record.
How We Tailor Advice To You
Here every step of the way: from the first discovery meeting to delivery of the report, our team has years of experience with some of Australia’s biggest transactions and are Royal Institution of Chartered Surveyors qualified so you can rely on us for your next lease.