How can I reduce the dilapidations bill on my warehouse?
To help reduce the dilapidations bill at the end of a lease it is highly recommended that a dilapidations assessment of the warehouse is undertaken, preferably as soon as possible.
A dilapidations assessment will detail what items of disrepair, redecoration, reinstatement or statute compliance are required, as if the lease was to end on the day that the assessment was undertaken. This assessment will detail both works required and the likely budget costs.
You can then utilise the dilapidations assessment as a guide to start putting monies aside to cover these items at lease end, plus having a contingency budget in place.
A more pro-active and cost-effective route would be to start to address these items whilst you are still in occupation of the warehouse, as you will have more control over the management of the work and more importantly, of the attributing costs.
This answer is a guide only. Further advice should be sought regarding your position with an existing commercial property lease. Jones Melling has a team of specialists who can advise you on the best course of action regarding your property.