I have been approached to inspect a 38 unit apartment building. I feel relatively confident in the inspection but am somewhat unsure in how to price this large of an inspection. Any advise would be greatly appreciated.
The obvious answer is per unit. I just did a licensing inspection for a city hotel. Much less intense then what your about and I charged 40 dollars per unit. Don’t forget common areas and brush up on your local accessibility laws. Good luck!
Your normal inspection price per unit minus a bulk discount. Be sure to state all units have to available over the day or two it will take. If not a fee will be accessed to return. Don’t bulk discount too much. Lots of report writing, lots of time to do it right and organize it.
I charge 125.00 per unit. Common areas ><$500.00 That would be >< up to 8 units.
Larger apartment building. Percentage of units - 25% inspected. At least one per floor.
All common areas.
Utility room/s are important as well as the garage, driveway and parking. As well, egress and exit doors.
Plumbing and water catch basins.
You must be insured for commercial buildings.
38 units. $2300,00 to 3,000 depending on the buildings size.
Expect 15 to 20 hours to inspect and report a quality assessment.
Often underestimated, the administrative/report writing part is very time consuming.
Remember, you have to get into each one…anybody home?..return trips?
I’ve done several of those in the past and I find I loose money because I couldn’t do home inspection. Because of all the time it took.
For me, it would be 200 per unit, inspected or not.
The next issue is documentation. Depending on your software, it may start out being 38 separate reports, that at some point, you could condense to inspected units/units not inspected.
Then, depending on what was wrong, I mean, if it was a real disaster you probably couldn’t do what I am about to suggest, condense the units inspected into sections on one master report.
Now, back before pictures, I had a notebook for these, and I wrote everything down that was wrong, names of appliances, etc… for each unit on one page. Then went back to the office and retyped everything in a readable manner.
I did three of those about that size for the same investor back in 95 or 96. He got a steal of a deal…
$1K per inspection!!
Thanks Gentlemen for all of your help. Gives me alot to consider.