 For long-term net leases, it is prudent to document existing conditions at the onset of the term to establish baseline condition. It is not unusual for landlord/tenant disputes to occur at the end of the lease over discrepancies as to the building’s care and maintenance over the term. Often, this results in litigation over the return of security funds. Often, claims are made that the tenant has not properly exercised sufficient preventive maintenance resulting in excess physical deterioration or system/component failure. In response, tenants belatedly claim pre-existing conditions.
IVI independently and thoroughly documents the property’s existing conditions at the onset of the lease. Our unbiased written reports are well documented with video of existing conditions. Similar to an insurance policy, such reports are placed in safekeeping, and may never be required at a later date. However, if needed, they can quickly resolve outstanding issues to avoid costly delays of security and litigation. |
