The Royal Institution of Chartered Surveyors consider it prudent to re-assess the sum insured of a commercial building every three years or whenever significant alterations and/or extensions are made to the building.
In the event that the building’s Declared Value is less than the actual cost of re-construction following an insured event, the Landlord risks a shortfall in the claim. Conversely, if the building is over-insured, the Landlord may face claims from Tenants for insurance premium over-payments.
Undertaking Reinstatement Cost Assessments for insurance purposes is a service that Goadsby Building Consultancy offer Landlords and cost is often recoverable from the Tenants under the terms of their lease. Our Building Surveying department has several years of experience in calculating the Declared Value of commercial properties and has access to all relevant cost data and information necessary to provide an accurate assessment.
For further information and advice please contact Goadsby Building Consultancy
Dilapidations are designed to show both Landlord & Tenant what work is required to put a building back into a reasonable condition. Goadsby offer advice to either of the parties involved, both landlord and tenant.
Careful consideration is required when calculating the size of offices that you require, as it is important to avoid expensive relocations. Too much space and you could have unnecessary overheads and too little, could
The 1st April 2017 rating list assessments are based upon assumed “open market” rental valuations at 1st April 2015.