Multi-tenant buildings present their own set of challenges and concerns for the investor. Is the building itself in good condition? Has the foundation shifted? Are there visible cracks from settlement or brick lift? What is the condition of the roof, and what about the condition of the Mechanical systems and the Electrical and Plumbing?
Depending on the age of the building, MEP systems can often be the most neglected. They are out of sight, and as long as they are even marginally effective, current owners may have kept them in place to keep their costs down and profit margins up. Especially if they have been planning to sell and were concerned about the cash flow picture for potential buyers.
You don’t want to purchase a building without identifying these potential cash flow impacts. A thorough physical review will identify these potential problems for you so that you can take them into account during the negotiation process.
When it comes to the apartment units themselves, we can tailor our review to meet your needs. Some clients plan to check every unit themselves, and want us to do only a representative sample of units to alert them to systemic issues and items they might miss.
Other clients, who may have less time available to review their investment, might request us to do a full review of every individual unit and do the inventory and appliance age assessment for them. We can provide detailed documentation of an entire complex unit by unit if that is what is needed.
We work cooperatively with building maintenance and supervisory staff, and can coordinate and schedule directly with them if you prefer, to complete our inspections without undue disruption to tenants in the units.
We can also schedule pest inspections and wood boring insect inspections, as well as Radon testing, should you need those types of evaluations. Whether you are a client who is in town, or you’re coming from the coasts, we can provide you with a thorough and timely inspection.