Schedule of Reinstatement
A Schedule of Reinstatement is a document which records the state of disrepair of a property and the required remedial works necessary to remedy the property.
This document is often prepared at or prior to the termination of a deed of lease for commercial property premises and will generally include cost estimates.
Terminal schedules specifically are undertaken prior to the termination of the Lease and record the remedial works to be undertaken at the expiration or earlier of Lease. Interim schedules detail items of disrepair arising from failure to comply with the terms or covenants of the Lease and are required to be remediated during the term of the Lease.
- E: tony.Jones@covekinloch.co.nz
- P: 09 349 0228
- M: 029 520 9597
- E: firstname.lastname@example.org
- P: 07 839 6127
- M: 027 483 9620
- E: email@example.com
- P: 04 589 9180
- M: 027 473 3077
What type of buildings/properties are you able to inspect?
Any property that is subject to a deed of lease and can include land, improvements and buildings complete with fittings, fixtures and services.
Does the lessee or the lessor commission a Schedule of Reinstatement?
More often than not the lessor will commission the schedule as it is in their interest to include every possible item so as to ratchet up the obligation of the lessee. In such circumstances the lessee will then often engage their own building surveyor to analyse the deed of lease and to prepare a second schedule. Negotiations then tend to occur prior to the matter being resolved.