Commercial Property : Schedule of dilapidations

Cosgrove Gaynard Solicitors

On termination of a lease, a tenant may be served with a schedule of dilapidations. This is essentially a schedule containing details of the tenants breach(es) of its repair obligations contained in the Lease

Schedule of dilapidations

On termination of a lease, a tenant may be served with a schedule of dilapidations. This is essentially a schedule containing details of the tenants breach(es) of its repair obligations contained in the Lease

Onerous wording in a repair clause can result in an obligation arising on the tenant to restore the property to a better condition than it was in on taking the lease. The words to “keep” or “put” can result in such an obligation.

An onerous repair clause can result in a detailed Schedule of Dilapidations containing detailed repair and upgrade works which could be a costly and unforeseen expense for the tenant.

Often this is not something that a tenant considers at the beginning of a lease however it is one of the main reasons why a commercial property expert should be consulted in relation to a commercial lease as they can negotiate the wording to remove or lessen any such obligation. For instance the wording of the repair clause could be negotiated to include, amongst the rewording, reference to a schedule of condition which would set out the condition of the property at the beginning of the lease.

For further advice please contact Cosgrove Gaynard Solicitors on info@cgsolicitors.ie or 01- 234 0044.

All news
Norwich Pharmacal Orders Ireland - Google, Coinbase, Twitter, Facebook

A Norwich Pharmacal Order is a legal order that is used to compel an innocent third party to disclose information about another party who is involved in some form of malfeasance. Norwich Pharmacal Orders are becoming a common legal tactic to stifle online trolls on social media, as well as trace anonymous individuals online

Text Link
Pre controlled function roles for VASP applications

If you are a VASP in Ireland, you will need to register with the Central Bank for AML/CFT purposes. If you are a firm that is not established in Ireland, or you are not conducting business as a VASP before the 2021 Act was brought in, then you must be registered with the Central Bank before any services commence. As part of the regulation of VASPs with the Central Bank of Ireland, individuals holding pre-approval controlled functions within a VASP must be approved under the latest fitness and probity regime of the Central Bank.

Text Link
DIGITAL ASSETS AND DIGITAL INHERITANCE

Digital inheritance is a new term that is becoming more widespread across the globe in relation to the transfer of digital assets in a broad sense. There is a completely new "digital asset" that has been created in terms of cryptocurrencies and therefore with that, inheritance queries follow.

Text Link
Why choose Ireland as a location for payment institutions

Ireland has slowly but surely established itself as an alluring destination for businesses in the Fintech sector.‍ From a solid regulatory framework to an advanced financial services ecosystem, Ireland’s financial technology sector is booming right now and is home to a surprising number of reputable domestic and international payment institutions. Let's take a closer look at the reasons behind this below.‍

Text Link