Leasing a commercial building has its plus sides. It saves you a lot of money that you would spend on acquiring a commercial building in a prime location. But before you sign that lease and get the keys, there’s one step you shouldn’t skip: a commercial building inspection.
On many occasions, overly eager individuals take leases without carefully checking the details. Despite their shiny exterior and seemingly impeccable details, plenty of expensive problems could still arise. An inspection carried out by an expert is your best bet to prevent hidden issues that might harm your business or cost you money.
Leasing a Commercial Building? Take Time to Consider
Consider renting a beautiful storefront with windows that span from floor to ceiling. Everything is fine for the first two months, but then the heating and air conditioning malfunction, your roof is damaged by rain, and your electrical system cannot support your devices.
Now, you must pay for repairs, and your production stops, which causes business problems.
That’s the risk when leasing a commercial building without doing your due diligence. When you sign a lease, you commit to a space that suits your business’s way of working and is secure.
What Is a Commercial Building Inspection
A commercial building inspection is a detailed, top-to-bottom review of a property’s physical condition. While a walkthrough is conducted by many, a home inspection is carried out by licensed inspectors who thoroughly examine every essential part of the house.
They check:
- The capacity of the structure and the roof.
- Issues with the foundation and main structure.
- HVAC systems.
- Water pressure, drainage functions, and corrosion in plumbing pipes.
- The types of electrical panels, outlets, and load capacity need to be checked.
- Checking sprinklers, alarm systems, fire extinguishers, and exit signs for fire safety.
- Accessibility for people with disabilities in accordance with ADA, restrictions imposed by zoning laws, and code compliance issues.
- Facilities such as parking, drainage systems, and signage are also part of the inspection.
It’s a good way to inspect your building physically, ensuring it can support your business in the future.
Why Skipping an Inspection is Risky
Many tenants believe it is the landlord’s responsibility to handle all the building’s maintenance. Often, this is not the case.
In a triple-net lease, the tenant is generally required to handle all repairs and maintenance. If you don’t inspect the real estate ahead of time, you could end up with difficulties that come with a big price tag.
Deferred maintenance is one of the most frequent hidden hazards in commercial buildings.
You may not notice the leaky roof or the worn-out furnace during your first visit, though later, it might end up costing a lot to fix or replace.
Key Benefits of a Commercial Building Inspection
Business owners need to make inspections a regular part of the building’s maintenance, especially before leasing. Here’s why.
Uncover Hidden Issues
Even after doing renovations, small problems in the building’s interior can go unnoticed. An inspection helps discover anything hidden behind the walls and below the structure.
Aids in Negotiating Better
Do you encounter an issue? Base your negotiations regarding rent, apartment repairs, or renovation costs on the inspection report before signing the contract.
Fixing Maintenance Responsibilities
When inspecting the commercial building, you can recognize which systems may require attention and confirm who will be responsible for them with the landlord.
Protects your Investment
The way your business runs depends on a fully functioning location. Through an inspection, you can lessen the likelihood of expensive interruptions.
When Should You Schedule the Inspection
It is better to think about it before committing. Once you’re serious about leasing a commercial building, request a due diligence period before signing anything. Then, you can inspect the home and address every concern that arises.
If the landlord resists it, consider it a red flag. Honest landlords understand tenants must inspect the property and cooperate with them.
What Should You Do After the Inspection
After the inspection is complete, review the report carefully. Discuss the following with the landlord:
- Necessary repairs or replacements.
- Any issues that might arise from not following the rules.
- Long-term maintenance costs.
You can use this information to negotiate better terms with the landlord. You can ask the landlord to address issues, reduce the rent, or fulfill certain responsibilities.
Final Thoughts
Leasing a commercial building without a professional inspection is like buying a car without lifting the hood. Even if it looks good, there could be hidden issues inside that may turn out to be expensive for you.
A commercial building inspection gives you clarity. It teaches you the real-world activities and skills you’ll need to know to act wisely in business matters.
After all, it’s important to look after your business by creating the right conditions for it to flourish.
At Elite Inspections, we are committed to providing business owners with the insight and confidence they need to make informed decisions. Our commercial building inspections uncover the details that matter before you commit.
Don’t risk getting a bad landlord for your next home. If you’d like to lease your next property, arrange a professional inspection with Elite Inspections today and feel secure about it.
Read through the contract before signing it. Be sure to review what you are purchasing. Trust Elite.
