Investment Advice

5 Top Commercial Property Repairs

Which Building Repairs are Necessary?
It really depends on the property and its particular needs. The fact is that there are few legally mandated items that MUST be done to purchase a property, but in our litigious society, here are prudent ways to take sensible precautions to protect yourself.

The Most Important Property Repairs are obviously safety related, for example:

  1. Installing GFCI (Ground Fault Circuit Interrupter) outlets in all bathrooms, kitchens and laundries is highly recommended. They cut the power to the outlet in emergencies. It is estimated that over half of the annual electrocutions in the US would be prevented if these were in all the recommended locations.
  2. Smoke detectors are a big safety item recommended in all sleeping areas. Although not mandated for all cities, the benefit is obvious.
  3. Installing safety barriers for railings with openings larger than 4" adds safety for children.
  4. Securing the water heater and installing earthquake safety shut off gas valves is not always enforced but is highly recommended.
  5. Other highly recommended improvements would be anything that secures the longevity of the property. Immediate steps should be taken to repair a crumbling foundation or a leaking roof. Despite the fact that you may not be REQUIRED by law to fix these as part of the buy/sell process, anything crumbling or suffering from water damage will only get worse and is a lot cheaper to fix sooner rather than later.

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