Dilapidation Works is a term given to mean the works carried out to repair the property or to reinstate alterations that have been made to the property by the tenant. It's a means to bring a property back to its original state as per the contracted “Schedule of Dilapidations“ set out in a Lease Agreement between a Landlord and their Tenant. The Dilapidation Works process may be initiated by either the outgoing Tenant or the Landlord.
Nuo's dilapidation works service is a full design and build managed solution which often takes 40% less time to turnaround than other traditional methods. Furthermore, it is a much cheaper option than bringing in a multitude of different trades and manging them separately.
For the Landlord
If you are a Landlord or Agent of commercial property, Nuo's Dilapidation Service gives you the best chance of turning the property round within a tight deadline ready for your next Tenant lease. Additionally, it gives you the opportunity to improve upon the state of the property and bring it up to modern standards so as to increase the chances of attaining a premium tenant.
Some additional benefits of our service are:
- Fast turnaround. Get your property back on the market quicker and reduce the potential of a property being vacant.
- Improve and modernise your property with minimal expense.
- Increase your floor space with our Mezzanine flooring solutions
- Reduce your overall costs by using a fully managed turnkey solution.
For the Outgoing Tenant
For the outgoing Tenant, if you have let the property lapse into a sorry state or have performed substantial alterations to the property in order to suit your business purposes, our Dilapidation Service could save you thousands compared to being charged by the Landlord retrospectively to delapidate it after you have left.
Some supplementary benefits for an outgoing Tenant are:
- Ensuring you meet your leasehold agreements of returning the space to its original condition.
- Keeping tighter control on costs associated with dilapidation works;
- Reducing overall cost of dilapidation work compared to Landlord charges.
- Work can be financed if necessary.
- You can off-set the dilapidation cost savings against your new office fit-out;
- Works can be completed in time for the end of the lease so as to avoid expensive Landlord fees;