In this blog, Icon Surveyors will consider what is a Schedule of Condition Report, what it contains and why Icon Surveyors consider it to be one of the most important documents a landowner can have in their possession?
What is a Schedule of Condition?
In the simplest of terms,
The Schedule of Condition Report is documented evidence of the detailed condition of a piece of land, a structure and/or a building on a specific date.
Icon Surveyors believe a Schedule of Condition Report is one of the most important documents an owner of an interest of any form of real property, be it, a building, land and/or structure can have in their possession. This is for several reasons which will be explained below.
What does a Schedule of Condition Report Contain and Who can Compile the Document?
A Schedule of Condition can be drawn up by any party involved in the purchase, development, alteration and/or repair of real property. If, a ‘building owner’, proposes to carry out works pursuant to the provisions of the Party Wall etc. Act 1996, an appointed surveyor would usually compile a Schedule of Condition Report on either the ‘building owners’ behalf and/or the ‘building owners’ and adjoining owner(s) behalf. However, if a dispute should arise between the building owner and an adjoining owner, a surveyor may carry out a Schedule of Conditions solely on behalf of an adjoining owner. This would include recording the condition of the building owner’s property and that of all and/or any adjoining owner’s property.
The Schedule of Condition is usually a compilation of a few documents, depending on the nature of the proposed works. Generally speaking, a surveyor, on a specified date, will record their detailed findings of the existing condition of the building, land or structure in writing together with photographic and/or video evidence to back up their written findings. Plans of any existing structure may also be included.
Why is It Important to Obtain a Schedule of Conditions?
Whether purchasing, developing and/or repairing a property, Icon Surveyors are of the belief that a Schedule of Conditions is of grave importance to any prudent investor or landowner. This is because it provides the same said individuals and/or entities with a form of insured protection. That is to say, a Schedule of Condition, in the instance of a landowner who proposes to develop and/or repair a building or structure, acts as an insured protection against any alleged future claims of any potential damage that could arise as a result of the proposed works to be carried out. Thus, any existing fault or damage prior to the commencement of the proposed works may not be used in a claim for any alleged damage. In the instance of an adjoining owner filing a merited claim, the Schedule of Condition will provide the evidence needed to substantiate it. The same is true of a purchaser of property, or indeed a tenant.
Icon Surveyors are happy to provide a free consultation on Party Wall Matters to any building or adjoining owners who may be affected by the subject matter raised in this blog.