Many people think of commercial real estate as business buildings located in the downtown of a large urban city. These properties are commercial real estate, of course. Commercial real estate can include a wide range of different property types. Consequently, these properties are used, inhabited, visited, and managed by people other than the owner. This article discusses four types of clients for whom a commercial property inspection in Edmonton can be performed.
1. Commercial Property Owners and Investors
Let’s begin with the obvious. Anyone who owns or invests in commercial properties needs to have a building inspection. We encourage comprehensive property condition assessments (PCAs). PCAs cover all aspects of the property and provide a comprehensive, in-depth look.
The structural assessment and the environmental inspection are both great tools but only cover certain aspects of a building. We strongly recommend a PCA when purchasing or investing in the following commercial property types:
Industrial Buildings
Multi-Family Homes
Hotel, restaurants, etc.
Storage Facilities
2. Tenants/Lessees
People don’t think to get an inspection done when they rent or lease new commercial or residential property. But they should. Unkempt buildings are a good indicator of how well an owner or manager maintains the building. It’s important to identify the problems. Things that appear to be working well may be on their last legs. Third, certain leases require tenants to make repairs on specific property components.
A lease is usually a long-term commitment. A commercial building inspection is a great way to avoid or reduce the legal obligations that a lease mandates.
3. Facilities Managers
The facilities manager has an obligation to the tenants, customers and employees of a building to provide a comfortable working or living space. Effective facilities management allows managers to provide a safe and comfortable environment for the tenants of their buildings. Managers should therefore add a commercial property inspection to their list of periodic maintenance.
Facilities managers must also maintain a healthy environment. The tenants of a building can be affected by everything from mold to radon. Specialty inspections are therefore used in conjunction with general inspections, to make sure that all bases have been covered. Please let us know if Facilities Management Services are needed.
4. Commercial Lenders
Inspections are required by commercial lenders as part of their loan approval and origination processes. Inspections are used to determine if and how many issues exist. Good inspectors also communicate emerging problems and potential threats even if they are functioning in their current state. We work with a number of commercial property lenders in order to provide timely and thorough inspections.
