What is the main purpose of conducting a property survey in leasehold management?

Conducting a property survey in leasehold management primarily aims to assess the condition of a property. This assessment is crucial for identifying any existing issues that need addressing, such as structural problems, maintenance requirements, or potential hazards. Knowledge of the property's condition allows leasehold managers to make informed decisions regarding maintenance, repairs, and future investments.

Understanding the condition of the property is essential for various stakeholders, including tenants, landlords, and property managers, as it affects overall property value and tenant satisfaction. It also plays a critical role in determining the viability of renewing leases, initiating repairs, or lawfully addressing any disputes that may arise related to property management. This comprehensive condition assessment directly influences the quality and performance of the leasehold investment.