When you need to relocate, expand or open a separate (or new) business, it is time to start shopping for commercial real estate. Most commercial properties look great at first glance but may contain hidden defects or structural problems.
Whether buying or leasing, the last thing you need is to get stuck with commercial real estate that is in bad condition. Knowing what to look for when vetting properties helps you identify condition issues. Below you will find information about two of the most common commercial property condition problems.
Check the roof carefully
Always ask to examine the roof of any building you plan to purchase or lease. Look for damaged areas and if the roof is flat, pay attention to whether it has a proper drainage system. If not, standing water could pool in certain areas and eventually intrude into the structure. Roofs in poor condition might give way at some point, potentially causing even more problems.
Identify foundation damage
Damage to the foundation of a commercial property can lead to expensive repairs and even disrupt your business operations. Signs of foundation damage include:
- Out-of-level walls
- Uneven, sagging floors
- Exterior structural cracks or gaps
- Interior fissures in sheetrock and other wall finishes
If the exterior or interior doors stick, hang up or drag upon use, this could also indicate foundation damage.
Obtaining legal counsel when leasing or purchasing commercial real estate in Hawaii helps you avoid most pitfalls like structural damage. For example, most representatives have built a network of real estate professionals that can aid you in uncovering damage. If you find any damage, you can pass on the property and look elsewhere for your real estate needs.
Notice: We are providing this as general information only, and it should not be considered legal advice, which depends on the facts of each specific situation. Receipt of this content does not establish an attorney-client relationship.