Commercial building inspections encompass a broad range of topics and can be more intricate than one might expect. Fortunately, High Mark Inspections, LLC, serving both Florida and Georgia, is highly knowledgeable about the various nuances and potential pitfalls of these inspections. Generally, commercial building inspection projects fall into two main categories based on the needs of small businesses and the objectives of mid to large-cap companies.
For small businesses and investment needs, there is typically a distinction in the size and scope of buildings and budgetary needs. Companies with revenues of $3 million or less often face different challenges compared to those with revenues over $5 million.
When working with clients with small business or investment needs, these clients often wear many hats, such as buyer, investor, operator, and manager. They are in the process of purchasing or leasing a significant fixed expense and need to determine whether the property suits their needs and is in good condition. However, they may lack the knowledge to fully assess the property, which can be concerning.
What questions should small business owners ask when seeking a commercial building inspection? Most owners may not fully understand how a professional commercial building inspector can protect them from potential risks.
In contrast, businesses with revenues exceeding $5 million often have access to professionals skilled in budgeting, forecasting, and financial management. These experts provide information to help management make informed decisions. Whether management or ownership is buying or leasing, they understand that the property's fit for purpose is just one part of the equation.
In both cases, a commercial building inspection—sometimes referred to as a Property Condition Assessment (PCA)—should provide information regarding the current condition of the property. Whether it's a rural Main Street location, hair salon, hotel, church, office, industrial facility, or any other small or large building, an inspection should give the client (whether large or small) a comprehensive understanding of the property's current state.
However, knowing the condition and understanding its financial implications are two different things. Knowing the condition without understanding the financial ramifications is like driving blindfolded—a risky proposition.
Full-service, professional commercial building inspectors like High Mark Inspections, LLC in Florida and Georgia play a critical role in shaping the financial impact of leasing or purchasing commercial property.
No competent financial analyst would create a five or ten-year forecast of building operations without understanding the true estimated cost of maintaining the property. Decision-makers do not want surprises, especially ones that could severely impact the bank account. That’s why High Mark Inspections, LLC provides lenders with the necessary information from inspections.
A commercial building inspector can forecast capital needs in relation to the commercial property from day one, creating five or ten-year projections based on the current condition. These projections anticipate significant capital expenditures needed to maintain the building or property, reducing unexpected surprises.
Imagine entering into a triple net lease, where the tenant is responsible for building and property maintenance, without knowing the expected remaining life of critical components. This scenario could lead to financial disaster.
When considering a commercial building inspection, the inspection itself and the resulting report are just one major component of a two-part equation: the report and the financial projection.
Ask High Mark Inspections, LLC, a commercial building inspector in Florida and Georgia, about their ability to provide forecasting tools. It's the wise choice, and the right choice.
As a leading member of the Certified Commercial Property Inspectors Association (CCPIA), High Mark Inspections, LLC adheres to professional Standards of Inspection (ComSOP).