Repair, replacement and obsolescence: The dilapidations dilemma

Paul French

Journal of Building Survey, Appraisal & Valuation, 2019, vol. 7, issue 4, 313-320

Abstract: Lease covenants to repair draw on a long history of case law precedent for interpretation and understanding. The decision to repair or replace is determined on a case-by-case basis according to the standard of repair. The complexity is compounded when spare parts are no longer available, forcing replacement with something different, or when changes are required to comply with legislation. Care must be taken to define the standard of repair needed, as well as identifying areas where tenant works may be superseded.

Keywords: dilapidations; leases; repair; replacement; obsolescence; standard of repair; lease covenants (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jbsav0:y:2019:v:7:i:4:p:313-320

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