Things To Know About Dilapidation Report

What is dilapidation report? Who can issue such a report? These are most frequently asked questions because people do not see such things in their daily life. Basically, dilapidation report is a report which is issued by a qualified structural engineer. In this report, major aspects which are covered are relevant to the present state of the building or any property. It comprehensively emphasises on overall condition of a property at a certain point of time. Main contents of this report are total area, area inspected, areas not inspected, opinion on the present state, opinion with respect to a proposed plan, recommendations, findings and evaluation. This list is not exhaustive and also this report can be more comprehensive depending upon the quantum of work and fee agreed. From these contents, one can envisage that such report is usually issued whenever there would be a case of acquisition of a new property for commercial purposes. Although, there are number of domestic users of these reports too. However, for corporate purposes, for example a manufacturing company is thinking to acquire a new factory, there is always a need of engaging qualified and specialist engineering consultants so that they can ascertain that either their proposed work can be done in such property.

Management of legal issues

By virtue of this fact that usually such reports are prepared and issued on request of commercial users, one can easily evaluate the importance of dilapidation report. No doubt, one of the most lucrative factor of hiring recognised engineering firms is that these consultants also report about compliance issues. They publish in their report that to what extent company/business assures compliance with local authorities and legal bodies. So, if there any lack, businesses can handle legal dilemmas at early stage and so, they don’t have to suffer in future on account of compliance issues.

Accurate valuation of a property

For both domestic and commercial properties, sometimes it is difficult to ascertain their fair value and cost. However, it would be easier to evaluate the cost of the property after obtaining dilapidation report from proficient structural engineering firms. This is due to the fact that such a report would also pay emphasize on strength and weaknesses of the property and so, an accurate property valuation can be affirmed.

As far as cost of acquiring dilapidation report is concerned, no one can deny that one has to spend massive spending because of specialised services involved in such reporting. But in Australia, it is pertinent to mention that there are too many structural firms which are furnishing their services from so long and so, this high and stiff competition does not allow service providers to charge too much and any business/enterprise can obtain this valuable report in minimal spending of money.