One of the current hottest areas in real estate investment is Multi-Family properties. As a result, we are doing a lot of Multi-Family inspections.
Buyers usually have a number of questions they ask the inspector during a property inspection. However, there are a few important questions we usually don’t get asked:
- Are the utilities on separate meters? This can make a huge difference in your return on investment.
- What are your priorities when you do an inspection? Make sure your inspector is paying the most attention to the main systems, not the cosmetic issues like stains in the carpet and chips in the paint.
- Are there any safety features I should pay attention to? Items like the allowable space between railings which is a child safety issue or whether or not your municipality mandates smoke detectors.
- How much longer should each system last?
- What do I need to do now regarding each system?
- What should I expect to pay over the next five years for each system per industry standards?