“You either spend your life preparing or you spend your life repairing.” John C. Maxwell

The balcony inspection report for multi family buildings is due by January 1, 2025.

Weinstein Construction in Van Nuys has provided through their website, a list of questions to ask to see if you are going to be required to get a Balcony inspection PRIOR to January 1, 2025.

  • Does your building have 3 or more units?
  • Does your building have “Exterior Elevated Elements” (EEE’s)? (for example, exterior balconies, decks, porches, stairways, walkways, entry structures, or other exterior elements with walking surfaces)
  • Do your elevated structural elements rely substantially on wood or wood-based products for structural support?
  • Are your exterior elevated elements walking surfaces more than 6 feet above ground level?

These are great questions, and as the year moves forward, it may be a good time to get your inspection completed and find out if you will be needing any repairs.

WHAT NEEDS TO BE INSPECTED? As the second question mentions, they will be looking at decks, balconies, entries or walkways ELEVATED BY MORE THAN 6 FEET.

WHO CAN MAKE THE INSPECTION? According to the legislation, “The inspection can be performed by a licensed architect, licensed civil or structural engineer, a building contractor holding any of the A, B or C-5 license classifications issued by the Contractors’ State License Board, with a minimum of 5 years experience.”

HOW OFTEN ARE INSPECTIONS NEEDED? Inspections need to be performed every six years. The inspection reports need to be kept for two inspection cycles, or twelve years, and a minimum of 15% of “elevated elements” need to be inspected each time.

HOW MUCH DO THESE INSPECTIONS COST? Judging by various contractors, I have been seeing costs around 300-500 dollars for each deck, balcony or other “elevated services”. Most small multi family properties will probably be around 1500 to 3000 dollars. This does not include any repairs that may be needed. I always like to find at least 3 qualified professionals (I plan on using a general contractor for my property). If you get your bids earlier, rather than waiting till closer to the deadline, you will probably get a better rate.

“It’s what you learn after you know it all, that counts.” John Wooden

What we at PRS PROPERTIES CAN DO. We are always available to chat. We can give you referrals for professionals, such as lenders, contractors, and engineers, so that you can decide who you feel best with. We can supply you with rent and sale comparables in the area of your properties, so that you know what rental values are in your area. It is important that you know the true value of your rental units, so that you can get them rented right away at market value, or at least as much as possible with rent control restrictions. We can look at potential purchases that you may be interested in to make the property more desirable, and maybe look at potential issues that an insurer might require you to repair

R= This is something that a lot of housing providers have not thought about or have decided to do later, but now may be a good time.

If you should decide to sell your building, we can help you exchange into a larger or smaller properties. We can even help you move into something with less management responsibilities. We can also help with getting the paperwork together for a refinance if that is your desire. We can also recommend experienced licensed contractors who can perform any repairs or installations you may need prior to selling. We can also look at your building for other easy and inexpensive changes that might allow you to get a higher value. We can help you to get the maximum value for your property, should you decide to sell, or the maximum return if you are planning to keep your building.

We always have many investors who are looking for “as-is” properties and are willing to purchase with low rents, deferred maintenance or even with a problem tenant in place. We have put together numerous transactions over the years which involve properties that are not listed for sale. Many investors are currently in 1031 exchanges and need to identify a replacement property before their 45 day identification period runs out.

Should you decide to put your property on the market, we will put together an aggressive, targeted and professional campaign to get your property sold fast. We have been doing this for over 40 years, and we will use all the tools available to bring you the most dollars at closing. If you are thinking of selling or are just curious about the value of your property, don’t hesitate to give us a call.