Commercial property is a big investment, no matter if you built it yourself or bought it. This is why you should always do everything you can to keep your property in good shape.
Regular property building inspection throughout the year will let you not only check the building’s structure but also fix any problems right away to protect your asset. Even if you have property managers, there are other reasons to have your property inspected from the outside.
The right commercial building inspection will show the property’s real condition and how much it will cost to fix. It can also keep your repair bills low and fix problems when they are small or, even worse, before they cause a major structural failure.
Who does an inspection of a commercial building?
Asset managers have more than one choice when it comes to hiring a commercial building inspector.
Engineers and architects can be hired. These people work in many different fields, such as construction, facilities management, maintenance, and others. On the other hand, engineers and architects will charge a lot more for their services and knowledge.
You can also hire a building inspector for a business. Many companies offer inspections for both homes and businesses, but be careful. An inspection of a business is not the same as an inspection of a home.
It’s a good idea to choose a company that not only specializes in commercial inspections but also understands that commercial properties are a company asset, a business expense, and a source of income.
1. Maintenance costs are cut down by a lot.
If you accidentally ignore a small problem, it can quickly become a high-priority, expensive one. Regular building inspections also lead to a big drop in maintenance costs, which is good for your investment’s long-term return.
If you find and fix a $1,000 problem now, you might not have to deal with a $100,000 problem in the future.
2. Documents the property’s condition in the right way.
Building inspections are a great way to get proof of lease violations or damage to your property that you hadn’t seen before. A qualified building inspector will look for damage caused by tenants and evaluate the property as a whole.
3. Makes your property worth more
Most of the time, the location and overall condition of a commercial property determine how much it is worth. You may not be able to choose where your building goes, but you have full control over how it looks. Regular building inspections let you make changes and, in turn, raise the value of your investment in a roundabout way.
4. Cash flow goes up.
Face it: you can’t ask top dollar for a property that isn’t very good. This is true whether you’re selling the house or renting it out. So, even though it’s not directly related, your regular building inspections and subsequent maintenance work help increase your cash flow by letting you sell or rent the space or property for more money.
5. Keeping your investment safe and avoiding troubled times
We go to the doctor for regular checkups to make sure we are living a healthy life and to deal with any problems as soon as possible so they don’t have too much of an effect on us. Regular building inspections follow the same idea.
Building inspections help you keep your property in great shape and make sure it is safe for everyone who uses it. They can help you find big maintenance problems early, before they get expensive. They can also help you get a better return on your investment by making sure your property isn’t in bad shape.