Lesees Inspection

Why a Commercial Real Estate Lease Inspection is Crucial

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A commercial real estate lease is one of the most significant financial commitments for any company. Whether you're starting a business that requires a storefront or expanding your business locations, it's essential to have the property's physical condition inspected by a MyPropertyAssessment.com inspector before entering into or renewing a lease agreement. This process, known as the Due Diligence Period, typically begins when your broker helps you express interest in a property. During this time, the landlord provides access for a thorough inspection, which can take several weeks.

 

Benefits for Both Landlords and Tenants

 

Property inspections benefit both landlords and tenants by ensuring that all parties maintain acceptable property conditions and can anticipate operating expenses throughout the lease term.

 

How MyPropertyAssessment.com Can Help:

• For Tenants: When responsible for maintenance and repair costs, tenants need to be aware of any major repairs or replacements that may be required in the near future. A commercial inspection report helps lessees anticipate costs, prioritize preventative maintenance, and plan for potential disruptions caused by building maintenance and repairs.

• For Landlords: Maintaining the property is crucial for attracting and retaining tenants. Poorly maintained commercial real estate can negatively impact customer perception, reduce foot traffic, and lead to inconveniences such as equipment failures, noise pollution, or even partial or full shutdowns of the building.

• Liability and Safety: Both landlords and tenants have responsibilities that extend to employees, customers, and occupants. Identifying potential hazards early on can prevent health and safety risks for building occupants.

• Avoid Legal Claims: A MyPropertyAssessment.com report provides documentation of the building's condition during the lease period, which can be crucial for avoiding or quickly settling legal disputes, especially those involving security deposits.

 

Negotiation Potential

 

Never assume there isn’t room for negotiation, whether you're a prospective lessee or renewing a lease. A current property assessment plays a critical role in the due diligence process, providing the necessary information and documentation to negotiate concessions. These concessions can help minimize risks, enhance the safety of building occupants, and control operating expenses.

Schedule a Commercial Property Inspection

Note: Every inspection and report is unique, depending on the type of property, its intended use, the Scope of Work, and the inspector. Previous inspection reports should not be relied upon as an accurate record of the current condition. Contact us to discuss your specific project needs.