Do you inspect commercial properties?
Yes what a vast untapped area this is. Some property companies have their own people to do the commercial inspection but their reports are sometimes inaccurate and vary biased since that’s who pays them.There is so much work out-there its truly amazing.
This new commercial area is the future. More financial appraisers and adjusters were hired for this year,2010 than ever before. The number is something like 60,000 nationwide, so if these banks, and other financial institutions are gearing up they know something is about to happen in the commercial inspection market or generally the leasing,selling or renting of commercial properties.
Not as many as I use to. The honest commercial brokers says it has been their slowest year in some time.
And expect this year to be even worse.
Go to the last page for your state and see how bad the commercial properties have droped. At least in Missouri, it can only go up.
The commercial property market is set to bust loose. I dont know how many people can get $1000 for a one day inspection. That is what is available if you know who to market too. You should sell our certifications in the commercial field to property managment companies. The potential is limitless as these companies are going to do whatever it takes to get their properties occupied.
I just started the site this afternoon, but it’s online, will be working on it when time permits. Have a LOT of work to do, but I wanted a site strictly for commercial inspections.
I’ll add your site and return email what I would like you to add to your site.
I was doing 30-40K a month in commercial inspections until the bottom fell out in the Phoenix area three years ago, but I have noticed an upswing, I’ve bid over 75K in work the last couple months, but only received about 10K out of 75K.
But it does look brighter than it did a year ago.
Looks good so far ,Dale.
Just inspected a chruch in Atlanta today.
Actually wish I had more commercial properties to inspect. Better money… among other perks.
Why do you ask and why do you only inspect storefront type buildings?
I think there are many home inspectors performing commercial property inspections, but not knowing how to properly do them. I’ve performed thousands of residential inspections since 1995. I only felt comfortable with store fronts and things like mom & pop pizza places. I’ve done a few doctor offices too. But that was without proper training.
All the current financial news keep pointing to commercial properties. There are going to be many, many vacant commercial properties up for sale (foreclosures). Someone should inspect them. I suggest InterNACHI members (presently doing mostly residential inspections) will be getting the call to do commercial property inspections.
**"**Over the next 5 years, about $1.4 trillion in commercial real estate loans will reach the end of their terms and require new financing. Nearly half are “underwater,” meaning the borrower owes more than the property is worth. Commercial property values have fallen more than 40 percent nationally since their 2007 peak. Vacancy rates are up and rents are down, further driving down the value of these properties."
Instead of re-financing, those commercial property owners are going to walk and foreclose. The banks will put them on the market. That’ll mean a great opportunity to provide commercial property inspections throughout the country.
Yes I do, Commercial Inspections have been my primary focus for years. I do some residential but Commercial is my primary buisness. I inspect anything, the bigger, the more complicated, THE BETTER!!!
Yes to light commercial properties, but looking to expand into larger commercial properties by next year.
Question to inspectors in states that have Home Inspector licensing laws, (and even those that don’t)…
Does your state require licensing for commercial properties? How does your state define the difference between residential and commercial properties?
Do any of you perform *only *commercial inspections with *no *residential? If so, and your state is licensed for residential and not commercial, do you run into difficulties proving that you do not perform residential inspections to the state? Have you run into problems from competing residential inspectors causing trouble because you are not licensed?
I inspect anything I can get. Luckily no license requirement yet here.
Good point, perhaps enthusiastic in outlook - but perhaps it may depend on your market/market area. My son-in-law is a commercial realtor and my daughter work in largely the Michigan market. They are both into the property management, unfortunately it too is like much of the US economy, - struggling. Much of the residential division is non-existent, the commercial side is loosing tenants. Just another glipse of realism, today!
My first one tomorrow. A 40 room hotel.:shock:
I inspect light commercial as well, but am pushing hard to get into the larger commercial market. Still feel that I need some additional training prior to pushing forward on larger projects. If anyone has any input on this matter please pass it along. Thanks1
I took ITAs commercial course in 2005 and thought it was very well taught. Excellent interaction but there was only 4 of us in the class.
Not sure how they are now since Kaplan took over or if there is one near you but it’s worth checking out.
Also, if you don’t have the ASTM 2018 document it’s worth your time to understand it.
Thanks Russell, I really appreciate your input on this subject. I have some experience on the commercial side, having owned several construction businesses in the past, but don’t feel comfortable enough to go in and inspect one as of yet. I am a firm believer in education and giving my clients what they pay for. I will look into ITA and see if they have anything, or can recommend anything, in my area. Have a great day!