The Significance of Obtaining a Property Condition Report23 August 2021
Properties such as homes and buildings must be built and maintained properly so that they can last for a very long time. And with highly maintained properties, they can easily be maximised by property owners, occupants, and other people since they do not deteriorate right away.
For owners of residential and commercial properties, they have the responsibility to ensure that their assets can stay functional throughout their building life. They must also make sure that every part of their properties is maintained and preserved. If some parts of their properties have already obtained some damages, then they have to fix them right away. After all, they do not want to hand out property condition reports that are bombarded with multiple property issues to their tenants.
Understanding the Property Condition Reports
Whether you are a lessor or a tenant, it would still be vital for you to know more about the essence of a property condition report.
A property condition report is a document that tenants would normally get at the very start of their lease period from property owners. This specific document typically enumerates all the details about the current condition and content of the rental space. From its rooms down to the small fittings, this document proves that a property is in a specified condition before turning it over to the tenant. Hence, even damaged or deteriorated parts of the property must be technically included in this report.
The Importance of Property Condition Reports
If you are a lessor, it would be vital for you to give out a property condition report to your tenants since it can be used for settling disputes in the future.
You see, this specific report generally outlines all the elements present on your property before the start of their lease. And with its included details, the tenants would typically check and verify whether they are legitimate or not. Once they have agreed with the report and that the days for inspection have lapsed, they now lawfully accept all the elements present on their property. If the tenants suddenly filed a dispute over “hidden” damages on the property, you, as a lessor, can use the report to counter their complaint.
Alternatively, if you are a tenant, obtaining a property condition report is essential since it can provide you with a detailed description of all the things about your acquired or rented property. Typically, you have several days to check and see if the report states the truth. Once you have found some issues, you can still contact the lessor and arrange some meetings to resolve things out.
Once you have agreed with the property condition report, you must keep it so that you can use it in the future as a reference point, particularly when you decide to move out of the property.
Know More about Property Condition Reports
If you want to know how to obtain property condition reports, you can always contact us at Fairdinkum Technical Services. We are a boutique organisation with operation centres located in New South Wales and Queensland, with over 35 years of experience in engineering design and construction, providing technical engineering design and other related services.
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