Whether you’re a seasoned investor or you’re entering the Commercial Real Estate (CRE) realm for the first time, it’s never easy to peg down a worthy investment alone – for that reason, many CRE investors turn to commercial inspectors for help.
In short, commercial inspectors conduct construction and building inspections in order to ensure the structure and any upcoming renovations adhere to municipal, state and federal building codes, ordinances, zoning regulations and other contract requirements.
Most employers require commercial inspectors to obtain a high school diploma and also ask that they have experience with construction trades, according to the Bureau of Labor Statistics. Inspectors learn on the job and in many states are required to have a license or certification.
As opposed to residential inspectors, commercial inspectors are tasked with determining whether or not a property is sufficient enough to earn Return On Investment (ROI). The task can be quite complicated since it requires a combined analysis of the property’s structural capabilities as well as its ability to entice business. The process is often referred to as an investor’s due diligence and takes place in the steps leading up to signing a deal.
In the end, commercial inspectors can help you avoid making the wrong deal. As CHAMPIA puts it, “Some nearly brand-new commercial buildings look beautiful but conceal costly problems like an uneven foundation that can come back to haunt you years later.” Not only will an inspector review every nook and cranny of the property, but they’ll also help you with your upcoming renovation to determine feasibility.
The final, and perhaps the most appealing, reason to hire a commercial inspector is to avoid liability. If your property passes commercial inspection, you’re less likely to incur costs, or even criminal charges, that are likely to present themselves with an unkempt property.
Stefanie Donahue is a freelance writer based in Bellingham, Washington. She’s a well-versed communicator with an extensive background in journalism and media production. Her writing draws from the insight of industry experts to uncover best practices for real estate investors.