A record of the condition of premises at the commencement of a lease. Usually appended to the
lease and referred to in the Repairing and Yielding Up covenants to limit the tenant’s liabilities –
typically to repair, keep and give back the premises in ‘no better than’ the condition than that
evidenced by the schedule. Limits the tenant’s exposure to various items of repair during the lease,
and its dilapidations liability at lease expiry.