Much like buying a home, buying a commercial property involves a lot of time, paperwork, and research in order to find the best property to fit your needs. It can also involve having the building inspected to ensure everything is working well, is in good condition, and meets all city and fire codes. Unfortunately, not all areas of a commercial property are well inspected, and it can cost the new owners dearly. In today's Aegis blog post, we'll look the hidden costs and liability risks that can be hiding on the outside of a commercial property, and how inspecting these early can save you money in the long run.

Trees

Tress are a valuable part of any commercial property, but it's important to know that you're buying a property with healthy and stable trees, and not diseased or decaying trees. Having trees inspected by certified arborists can help diagnose tree health and what preventative or corrective services are needed, such as tree pruning, disease and insect treatment, deep root fertilization, cabling and bracing, or even tree removal. These services can help prevent possible property damage or personal injuries from trees on the commercial site, as well as liability issues that may accompany them. 

Sprinkler Systems

Commercial properties rely on irrigation or automatic sprinkler systems in order to water lawns, landscape gardens, shrubs, and trees on the property. However, many commercial property owners discover too late that their new property has malfunctioning irrigation systems or an outdated sprinkler system that wastes water and doesn't water all zones adequately. It's important to have sprinkler systems tested to ensure full functionality and that the system is as efficient as possible to reduce waste and lower utility costs.

HVAC

In the Gulf Coast region, it's critical to have a HVAC system that works well even in the most brutal heat of summer, so getting these systems inspected is a routine part of evaluating a commercial property before buying. However, just because the HVAC system is in good working condition doesn't mean it's well protected from criminals or thieves looking to steal valuable parts or materials for scrap. HVAC systems should be secured to prevent theft or damage, as well as losses of business revenue from closures due to HVAC outages.

Landscape and Security Lighting

Finally, a commercial property should be evaluated at night to determine safety and liability risks that come from poor lighting around the property. Liability issues can stem from trips and falls in surface lots or parking garages, and also theft and vandalism can occur when a property is poorly lit. Commercial property owners should know what kind of lighting is available on the property so they can make improvements or add additional security to prevent injuries, theft, or vandalism.

Aegis Insurance & Financial Services is pleased to be a leading provider of Commercial Insurance solutions to companies across the Gulf Coast from all industries. Our team of Commercial Insurance experts can help create a customized commercial insurance package tailored to your unique business needs and financial goals, all at competitive rates. To learn more about our full range of Commercial Insurance policies, including Business Owners Policy, General Liability, Commercial Property, Commercial Auto, Excess Liability, Workers Compensation, and more, give us a call at 713-850-7622 or fill out our online form for a free quote!