4 unit apartment building quote

[Rick A. Hunt]

I have to quote on a 4 unit apartment building and having never quoted one before I am looking for input on what my fellow INTERNACHI members would charge.
Heres the scoop...
4 units
5640 Sq ft
full Basement
4 car detached garage
4.75 baths
4 kitchens
8 bedrooms
Common heat and water

HEEEEEELP!!!

[measter]

I don't have much experience with this type stuff, but I'll throw out something silly to get the thread started

It sounds much like two average sized homes. What would the charge be for two homes each 2800sf, 4br, 2 car garage, and basement?

Add a little for the extra kitchens and the extra paperwork of keeping 4 reports separate. Add a little for the "extra commercial expertise" that you have.

Another thought. On another thread, Nick G recommended that the best pricing for commercial inspections is by the hour. However, this is relatively small for commercial and they may want a pretty firm estimate.

Hope that helped.

V/R
Mark

[James H. Bushart]

$1700 for the 4 dwelling units and common areas and $300 for the garage.

[gbeaumont]

Originally Posted by rhunt3

I have to quote on a 4 unit apartment building and having never quoted one before I am looking for input on what my fellow INTERNACHI members would charge.
Heres the scoop...
4 units
5640 Sq ft
full Basement
4 car detached garage
4.75 baths
4 kitchens
8 bedrooms
Common heat and water

HEEEEEELP!!!

I would be at:

$250.00 for the common structure
$100.00 per unit interior
$50.00 for the garage

$900.00 in total probably about a 4-5 hour inspection, and I'd expect to spend 2-3 hours on the report.

Not a bad days work

James please be my major competition here in Florida, I need the work

BTW: down here at the moment I bet you'd see quotes below $500.00 for this job

Regards

Gerry

[Marcel R. Cyr]

I agree Gerry, I need work too! I like his #'s though.

$800 here would likely be in line.

[Doug Edwards, CMI]

There are guys out there right now that would do this for $200, a six pack and an egg salad sandwich.

[gbeaumont]

Originally Posted by mcyr

$800 here would likely be in line.

To be honest Marcel, if a potential buyer balked at the $900.00 I'd do the garage for free, if he were still balking we'd start some serious negotiations I doubt I'd end up below $700-750 though

Regards

Gerry

[gbeaumont]

Originally Posted by dedwards

There are guys out there right now that would do this for $200, a six pack and an egg salad sandwich.

I know you're right Doug, frankly I'd sell it for $800, sub it for $250 and the sandwich spend the day drinking the six pack and not have to leave the office.

Gerry

[Marcel R. Cyr]

Originally Posted by gbeaumont

To be honest Marcel, if a potential buyer balked at the $900.00 I'd do the garage for free, if he were still balking we'd start some serious negotiations I doubt I'd end up below $700-750 though

Regards

Gerry

Actually, I was thinking $800 and no charge for the garage.
No dickering, give them a bonus up front.

[Michael Larson]

Originally Posted by gbeaumont

I know you're right Doug, frankly I'd sell it for $800, sub it for $250 and the sandwich spend the day drinking the six pack and not have to leave the office.

Gerry

I like your thining on this one Gerry.


I would do this property for $700 to $800 because it is basically the same as two four bedroom homes minus a bathroom or two.

[gbeaumont]

Originally Posted by mlarson

I like your thining on this one Gerry.

And there's you thinking I'm not a capitalist

Gerry

[Michael Larson]

Originally Posted by gbeaumont

And there's you thinking I'm not a capitalist

Gerry

I trust that most HIs are capitalists when it comes to their personal finances.

[Rick A. Hunt]

Thanks Guys,
I came up with $827.00... I kinda figured it in sections i.e. time to do report, time to inspect utilities, time to inspect roof etc. than took the number of hours total and mutiplied that by what I like to make an hour, added 30%(for taxes) and there you have it! I Guess I'm in line with my price. Thanks again for the input this message board is the best tool for getting answers about things you dont know or are unsure of and always in a timely manner!

[James H. Bushart]

Okay...I know that, technically, this was a residential inspection because of the small number of units....but I priced it as a commercial, since it was an apartment building.

Accordingly, in addition to the normal inspection that would be made and reported on (4 x $300 + $200 for the garage)...I would add the expenses of accumulating, reviewing and reporting on the following:

• Accessibility surveys
• Appraisals
• Building plans
• Certificates of Occupancy
• Citations
• Deck age records, plans and construction permits.
• Deck and balcony maintenance, power washing, painting, treating, repair and modification history
• Emergency evacuation plans
• Environmental studies
• Evacuation drill records
• Fire detection test and maintenance records
• Fire door inspection reports
• Fire prevention plans
• Fire extinguisher service records
• Fire records
• Flame resistant certificates
• Flood plain maps
• Floor plans
• Kitchen grease cleaning records
• Kitchen post fire inspections
• Maintenance records
• Manufacturer's installation instructions
• Notices
• Permits
• Power washing records
• Previous inspection reports
• Proposals
• Rent records
• Repair estimates/invoices
• Safety inspection records
• Seller disclosures
• Sprinkler head replacement records
• Utility bills
• Warranties

And then, Interviews:

The inspector should identify and interview the person(s) with the most knowledge about the condition of the building. Typically, this will be the building owner or manager. Unless otherwise agreed to in the Scope of Work agreement, it is the responsibility of the client to arrange to have this person(s) on hand for interview by the inspector on the day of the walk-through survey.

And possibly Pre-inspection questionnaires

The inspector may request that the owner, building manager and/or client fill out pre-inspection questionnaires to gather information. The inspector may rely that these responses are truthful. In cases where parties refuse to fill out questionnaires in writing, the inspector may interview the parties and fill out the questionnaires for them. The inspector should note in the report if he/she filled out the questionnaire based on an interview and whether such interview was performed in person, by telephone, or by email. Copies of all responses to such questionnaires should be included in the inspection report.

Adding these activities would be how I would justify my fee.

[gbeaumont]

Hi James,

some of what you listed is contained in my standard commercial inspection, I also typically quote an additional minimum fee of $500.00 for permit searches, open violation citations and additional/supplemental records research

I'll let you know next time I sell one, don't hold your breath!!

Regards

Gerry