Commercial Property Surveyor
Whenever you’re buying, selling or leasing commercial real estate, you could benefit from the expert advice and support of a commercial property surveyor.
A trusted professional, your chosen surveyor can support you through this period of transition and growth whilst protecting your finances and giving you complete peace of mind.
They’ll also help to ensure the right survey reports, valuations, tax calculations and other pieces of paperwork are completed in an accurate and timely fashion so you can continue to achieve those business goals.
To help you better understand more about commercial property surveyors and what we do, we’ve written this short article.
We’ll explore what we do, what services we can provide and how we can save you both time and money in the short and long-term.
At Harding Chartered Surveyors, we’re a team of independent and impartial RICS surveyors that can carry out surveys on behalf of landlords and tenants of commercial properties. If you have any questions, need advice or want to book a dilapidation survey, don’t hesitate to call us on 020 3598 6730.
What is a Commercial Property Surveyor?
A commercial property surveyor is a professional registered with the Royal Institution of Chartered Surveyors (RICS) who is involved with the valuing and negotiation of sales and leases on commercial land or properties.
This can include but is not limited to rental properties, offices, shops, and warehouses and depots.
They are usually employed by the tenant, landlord, buyer or seller of a property, depending on the property in question and can carry out a range of roles including:
Inspecting property to analyse its condition, identify defects and provide an overview of any repairs that are necessary
Advise how to manage or supervise building maintenance
Prepare a Schedule of Condition
Support the negotiations for a Schedule of Dilapidations
Provide up to date advice on building regulations and legislation in the UK
Offer advice relating to the management or supervision of building maintenance
Many commercial property surveyors specialise in the areas that interest them the most such as management, purchase, sale or leasing of land, or property development.
What types of Commercial Property Surveys are there?
Our commercial property surveyors offer a range of property surveys ranging from the domestic to the commercial to meet your individual needs.
They provide much more than a financial valuation and can represent your best interests, whether you are a buyer, seller, landlord or a tenant. Here are the most popular three:
A building survey is a detailed report which explains the current condition of a building to a prospective property buyer. It will provide information on building defects, identify the materials used in construction and highlight any potentially hazardous materials found such as asbestos.
As commercial buildings are often different from residential buildings and tend to be constructed using reinforced concrete, steel and cladding, this requires a different approach to the domestic building survey. It can also suggest any remedial works that might be carried out and support any claim for a price adjustment.
A Schedule of Condition describes the condition of a commercial property at a certain point in time, including photographs for evidence. This is a survey often prepared for property owners and new tenants that can clarify who is liable for damage when the commercial lease comes to an end.
If you’re signing a lease, the Schedule of Condition will help ensure you’re not liable for property damage that existed prior to the start of your lease. If you’re a landlord, the Schedule of Condition can help avoid contentious litigation and the end of the lease and provide supporting evidence for you. This can often save thousands of pounds, especially when it comes to commercial land or property.
Usually carried out at the end of a lease, the Schedule of Dilapidations indicates what repairs the tenant needs to carry out.
The surveyor can also advise on the action that needs to be taken to agree on a settlement and can represent a landlord or tenant should negotiations arise.
How to choose a commercial property surveyor?
Look for a qualified and experienced surveyor who has an excellent track record and plenty of positive feedback. They should also be members of The Royal Institution of Chartered Surveyors (RICS) as members must adhere to strict rules of conduct and best practices.
A commercial property surveyor can do much more than value a property. Offering a range of guidance and support to buyers, sellers, tenants and landlords, they can carry out a range of surveys and protect your best business interests at all times.
What are the benefits of using a Commercial Property Surveyor?
When you’re buying, selling or leasing commercial real estate, you need to have peace of mind that your interests will be protected at all times. This is exactly what a commercial property surveyor can provide, in addition to the following benefits:
1. You’ll better understand the terms of the lease
Your property surveyor can help you understand your legal requirements and protect your interests according to the terms of the lease. Any potential problems may be resolved without legal action. This will also help your property manager liaise more effectively between you and your clients.
2. You’ll negotiate difficult disputes more easily
Whether you’re a landlord struggling to get your tenant to carry out necessary repairs, a buyer looking to make an investment in commercial property or deeply involved in a boundary line dispute, a commercial property surveyor can help.
3. You’ll get 100% reliable advice
Registered with the RICS, you can rest assured that your commercial real estate property or land surveyor will provide up-to-date advice on all property-related matters. He or she will understand recent property legislation and can provide advice directly to tenants if required.
4. You’ll benefit from professional support
Whether you need support for lease renewals, rent reviews, purchases, sales or any commercial property undertaking, your surveyor will be there to help.
5. You’ll benefit from a professional service you can trust
RICS compliant chartered surveyors provide a trustworthy, professional service that follows strict guidelines.