A common way in which future repairs of a multi-occupational building or an estate are dealt with in leases is that the landlords will covenant to keep the building in repair, and each tenant of a unit in the building will covenant to pay a percentage of the cost of the repairs by way of service charge.
If you’re taking a unit in a brand spanking new building, you should have particular concerns for which you will need protection. The reason is that you only really know how well the building has been constructed when it has stood for a while. You get some comfort simply from the fact that it has been standing for several decades.
A new building may suddenly develop cracks or substance because there was something wrong with the load bearing in the design, or the construction materials used. For this reason, the owners of newly-constructed buildings make sure they get “collateral warranties” from the builders and the whole of the professional team, backed up by indemnity insurance policies.
If you take a unit in a new building, you don’t suddenly want to find yourself having to pay to put right inherent defects which soon come to light.
There are various things you could negotiate to reduce your risk. For example, the landlords could agree to rectify any inherent defects that show themselves during a specified number of years at their own cost – not recovering it by way of service charge. Or a “cap” could be placed on the amount you can be required to contribute in any year for putting right any inherent defects. Or the landlords could agree to sue the negligent contractor or adviser to recover money for defects from them before turning to you, whenever that’s an appropriate option.