Commercial Leases · glossary
An agreed record of the premises at the start of the lease, against which the repairing covenant is measured. Here it is 120 photographs taken by one surveyor for both sides, with her covering schedule, kept in two identical initialled sets (Schedule 5). Lease, Schedule 5, paragraph 1 · Chapter 6 · see Repairing covenant, Dilapidations
Explained in Chapter 6, Repair and the Schedule of Condition, of Commercial Leases.
Fellgate's first draft asked Linnet to keep the floor “in good repair and condition”, and said nothing about its state. Linnet's solicitors refused to pay for improving an old floor that Linnet would leave behind. Fellgate wanted the floor back in a usable state, without paying for Linnet's wear. So the two sides agreed a schedule of condition: a record of the premises at the start, against which the promise is measured.Read Chapter 6, Repair and the Schedule of Condition →
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