Schedule of Dilapidations

Schedule of Dilapidations is used at the end of a commercial lease where the condition of the property has already been recorded at the beginning of the lease by a Schedule of Condition. The Schedule of Dilapidations compares the present condition of the property with the condition at the beginning of the property, described in a Schedule of Condition and values the costs of the repairs necessary to return the property to the condition it was in at the beginning of the lease. In fully repairing leases, this is often the source of great differences of opinion between a landlord and tenant.