Leasing or buying commercial space can be a costly endeavor for any business. Before signing a lease and locking into a legal agreement for years to come, it is important to schedule a commercial property inspection to make sure your investment is protected. Inspections can rule out any potential problems and will ensure that the space is a worthwhile investment.
If you are planning on hiring a professional inspector, make sure they are certified and able to conduct a commercial space inspection. All Canadian provinces require inspectors to be licensed.
When inspecting an office space, the following things should be checked to determine their condition:
Structure
The inspector will look at the exterior of the building. They will evaluate the building’s surfaces and exterior equipment. They will also look at the parking lot, roof, exterior stairs, handrails, and other paved areas to make sure that everything complies with rules, codes, and regulations.
Internal systems
When inspecting the buildings internal systems, the inspector is looking at the HVAC system, the electrical and the building’s plumbing. These areas can be costly to fix when they break. It is important to make sure they are in excellent working condition before signing a lease or buying the building.
Exterior
The exterior is looked at when the building’s structure is examined, they will also look at sprinkler systems, drainage, lighting, and anything else that may be outside on the property.
Interior
The interior walls and insulation of a building will be looked at to determine if there are cracks or if the insulation needs replaced. If you are concerned about mold, water damage or other problems related to the interior of the building, request that these items are covered when hiring the inspector.
It is important to look for signs of wear and damage and alert the property owner once the inspection is complete. Large ticket items can often be worked into the contract and can be covered by the property owner. By getting a thorough examination of the property, commercial buyers and sellers can put their concerns about the property behind them.
For more information about commercial inspections or if you are looking to purchase a commercial property in the Richmond Hill area, please contact Mehran Redjvani of Re/Max West.