Condition Schedules are a precise record of the present condition of a property or its demise. They are invaluable when determining liabilities for repair.
Condition Schedules are incorporated in Party Wall Awards, (although they are not actually required to be included under the Act), so that identification of any damage which has occurred during the works can be easily determined, following completion.
These documents can form the basis for forward planning schedules, where the repair and/or replacement of each element identified can be included and costed, thus allowing the owner or landlord to budget accordingly.
Costed forward maintenance plans are normally split into the following periods:
1: Present day to two years
2: Two years to five years
3: Five to ten years
Costs can be provided on a ‘like for like’ basis, or for upgrading (such as in the case where improved insulation is required), and even alterations or additions where appropriate, (such as overlaying an existing flat roof, rather than taking it up first).
Property owners can benefit enormously when the future financial liabilities of their investment are fully understood.