Commercial Real Estate Inspection Services Key Terms
Learn about commercial real estate inspection services terminologyA commercial real estate inspection services company provides building inspection services to office buildings, shopping malls and other commercial establishments. This inspection includes surveying exterior walls, heating, cooling, plumbing and electrical systems, attics and balconies. The property inspector provides a written report of the general condition of the site or building, its components and systems and issues recommendations if applicable.
While interacting with commercial real estate inspection service companies, you will come across various technical terms. This guide aims at acquainting you with certain commercial real estate inspection key terms, such as real estate inspector, property condition report and ASTM E2018-08.
Real estate inspector
ASTM E2018-08ASTM E2018-08 refers to a set of standards that provide guidelines for property condition assessment. The purpose of the standard is to define good practices for conducting a baseline assessment and to issue recommendations wherever necessary.
Property condition reportAfter a property condition assessment, the inspector needs to document the observations and recommendations in a formal report. This report acts as a guide to a prospective property buyer and can help in negotiating the price.
CIA (Commercial Inspectors of America)This organization develops certified and licensed building inspectors for the commercial inspection industry. It designs policies, procedures and standards for personnel working in the commercial real estate inspection services field.
Building insulationInspection services include checking for proper insulation of the building. Insulation includes thermal insulation as well as insulation against fire, and acoustic insulation.
Radon testingRadon is a radioactive gas that is injurious to health. Commercial real estate inspection services include testing for radon levels, to make sure that the real estate property is suitable for use.
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