Hello,
I was sent an email yesterday asking for a price on a condition report for a 122 room hotel with 50% (61 rooms inspected) and the properties’ structure inspected as well. I have not done this type of inspection before or would not know what to charge. I do have the background to perform this type of inspection, but have not yet had the opportunity to do this. I would greatly appreciate any advice or insight on inspecting this type of structure as well as what type of pricing I should send his way.
(Inspection is for a private capital group)
Generally speaking, private capital implies deeper pockets so you can probably set a reasonable fee based on how your hourly rate is worth.
If your pipeline is pretty full, I would charge more if these folks want the report sooner vs. later. Part of the price should factor in your opportunity cost, i.e. how much you would make on another job.
Also, they really want all 61 rooms inspected vs. random sample - especially if you get some push-back on pricing. This can give you some negotiating room.
To be honest most of the time my fees are set by agencies I’ve worked with. Occasionally, we negotiate price for various items like mileage / tolls, expedite fees or expanded scope e.g. climbing on top of each roof for multi-building complex.
One last consideration would be “do I see a long-term business relationship with this client? or possibility of them bringing more business?” From time to time I’ve gone lower on fees for this, but it’s definitely done sparingly with a d-e-e-p gut check!
Depends on what scope of the inspection you agree to David. What the customer wants will dictate the pricing and scope of the inspection.
I’d suggest teaming up with an seasoned commercial inspector for this project. It’d be helpful until you got a few under your belt.What state/city are you located in?