When adding a new commercial office building to your portfolio, there are many things you need to consider — you’ll need to handle the due diligence, make sure it will be a profitable investment and ensure you are making the right decision. There will usually be a decent amount of work that will have to be done to the property, some possible refurbishments, or any other aesthetic updates that will elevate its value. But by far, the most important improvements you can make to your commercial property are those that strengthen your building’s structural integrity. Because without these improvements, all the money and work you put into the building could be lost in an instant. With that in mind, take a look at our checklist for all new commercial property owners.
Inspect the Plumbing
A building is essentially worthless without updated plumbing. You do not want to have tenants complaining about broken pipes or shoddy plumbing. The key is to check everything as early as possible so you can get as much work done before any tenants come moving in or renting office space. You’ll want to make sure there are no old pipes and any cracks are dealt with. A water leak in the plumbing is something that can ruin an entire building, so make sure you take care of any and all issues.
Check the Electrical
Along with the plumbing the electrical systems of a new building will need to be checked and possibly redone. If the building is older than 10 years you may need to replace the electrical system. The problems this could cause are numerous and you won’t want your commercial building going dark due to a lack of electrical function.
Refurbish the Flooring
Whether it be a new commercial building or an older one, the flooring will most likely have to be redone. Even a floor that is a few years old may have cracks that can cause a water leak which could destroy not just the interior but also the foundation. You’ll have to make sure you get properly sealed flooring in order to avoid this issue. It will also add value to the property itself and give it an elevated look which will look good for your future tenants.
The most important thing that will need to get done is to make sure your commercial building’s outdoor and below-ground structures have been properly waterproofed. You’ll have to inspect the basement and roof for any water leaks or damage. As well as look for any problem areas, such as cracked concrete. As mentioned before, flooding is one of the most destructive things that can happen to your building. Ensure that everything has been taken care of properly so you can have peace of mind knowing your building is safe.
When the new building is finished and ready for tenants, they’ll thank you for the care you took to make sure that everything is as it should be. Protecting your building from water damage is a key aspect of managing a commercial property. To get a quote for your waterproofing needs, contact WICR and we can help you put the finishing touches on your new property.