Owning and running a commercial property can be a costly long-term investment. As such, before locking into a legal agreement it is imperative that the buyer schedule a commercial building inspection to protect their interest and more importantly, their investment. A professional building inspector can determine all the potential issues and existing problems in both the property and structures and ensure that they are worth the investment.
A typical commercial building inspection often includes the assessment of the following:
- Structural Frame
- Building Envelope and Roofing
- HVAC, Plumbing, and Electrical Systems
- Life Safety & Fire Protection
- Interior Elements
- Site Topography
- Storm Water Drainage
- Paving, Curbing & Parking,
- Landscaping & Accessories
- Utilities (Water, Electricity, Natural Gas)
That being said, hiring commercial building inspectors is not only advisable to business buyers themselves, but also to other stakeholders of the business as well. Read on as we detail in this post the individuals who must consider hiring an expert and professional commercial building inspector.
Before making a decision to invest or not, the potential investors need all pertinent information about the company and its activities – including its planned purchase of commercial property. For investors, the property condition assessment (PCA) is part of the due diligence process because they need to fully understand the condition of the asset in order to measure the immediate and long-term risk associated with the purchase of the property.
With such information at hand, investors will further understand the financial implications of the physical deficiencies found in the property. If the building inspector discovers conditions that are too expensive to remediate, the investors will be able to decide whether to pull out their money or wait for the long-term ROI that they can gain from sharing the cost of fixing the deficiencies in the property.
2. Plant and Facilities Managers
For managers of industrial facilities such as factories and utilities, conducting a routine building inspection helps ensure the safety and well-being of the site personnel working within their property’s premises.
A detailed and well-executed commercial building inspection can help plant and facilities managers to design systems and policies that can help prevent workplace injuries, occupational diseases, and other types of hazards to which site personnel may be exposed while in the work environment.
Aside from improving health and safety within the facility, facility managers can also hire a commercial building inspector to make the facility more energy efficient. Many building inspectors are professional engineers that also specialize in energy and sustainability. Alongside the PCA, this service should help facility managers offset the high operational cost of the facility by making it more energy efficient and environmentally friendly.
A detailed commercial building inspection can also help the accountants of the business to understand and emphasize the significant difference between the cost of fixing of all the problems identified in the PCA vs. the future financial and even legal and compliance implications of deferred maintenance items or unrepaired structural deficiencies.
Aside from the long-term benefits of the short-term capital outlays detailed in the PCA report can provide, these costs should also enable the accountants to make an accurate calculation of the ROI that the business owner will get from the commercial property. With this information, accountants can provide the business owner with better leverage during the negotiation stage of the sale transaction.
4. Human Resource Managers
One of the primary functions of a human resource manager is to ensure safety in the workplace. This is in accordance with the OSH Act of 1970, which requires employers to provide a safe working environment for employees.
With the help of a competent commercial building inspector, HR managers will be able to identify the structural problems and hazards that could lead to employee illness or injury, as well as the pain points such as inadequate HVAC systems that hamper the productivity of the site personnel.
After the inspection, the professional engineer can also provide suggestions to improve life safety in the workplace, as well as provide expert opinion on the potential liabilities that may arise from the structural hazards existing in the workplace.
When corrective actions are taken, HR managers can help the organization avoid potential lawsuits and other monetary loss relating to employee safety. Also, an employee-focused culture that underlines health and safety creates a conducive environment for optimal job satisfaction, morale, and productivity.
Regardless of the type of commercial property that will be inspected, it is vital for these stakeholders to understand what goes into a property condition assessment, so they can monitor the process and ensure the building inspector covers all aspects of a standard commercial property inspection.
Tauscher Cronacher has been involved in commercial building inspection in New York and Long Island for over 60 years and has inspected more than 200,000 structures in collaboration with Professional Engineers, Registered Architects, and engineering firms worldwide. Contact us to learn more about our commercial inspection services today.