It is important that the school and local authority practices good asset management throughout the primary term, so that the assets can be handed back in reasonable condition at the end of the primary period.
At the expiry of the primary period edulease offers schools revised and competitive secondary rental terms for the continued use of the assets. The setting of these rentals is at the discretion of edulease. A secondary rental period is therefore likely to be an attractive option. Indicative secondary rentals can be obtained at the time of quotation for the Operating Lease from edulease.
This approach follows the practice within the guidance notes on Operating leasing offered by The Chartered Institute of Public Finance Accountants (CIPFA).
All secondary rentals will be based upon current market values of the asset as outlined within the Finance & Leasing Association’s Code of Practice for funding Local Authority leasing.