ADA Compliance - Potential Property will need the work
Looking at an investment of a building, 8000SF, mostly office/medical, built in 1970, it is not ADA complaint because there has not been any major work done. It is well maintained and structurally sound but the ADA work will need be done. Two stories no elevator. Does anyone have any insight on this? Is this a project worth pursuing? The work will need to be done within the next 3 years, is the cost/headache not worth it or is this an opportunity to use that issue to get a lesser price and add value to the property? Thanks
[{"id": "hpfdldf", "text": "Are you sure it had to be done? Alteration voice is a lot more forgiving than new construction. If ADA compliance exceeds a certain percentage of total construction costs you can get the requirements waived. Now if you need it to attract medical tenants that's a different story.", "replies": [], "depth": 1}, {"id": "hpfgbj3", "text": "First, you need to hire an ADA consultant.  They're available in every city, and for 8,000 sf....it won't run you much.\n\nAn elevator shouldn't be needed (\"*reasonable attempt to comply*\" is the standard).\n\n\"*The work will need to be done within the next 3 years\"*. How did you determine that time frame?  There is no such mandate in the accessibility laws.\n\n*\"is the cost/headache not worth it or is this an opportunity to use that issue to get a lesser price and add value to the property?\"*\n\nYour negotiating skills are what you'll use to get a better price on the property.  If you lower the buy by the cost of these improvements and they need to be completed \"*in the next 3 years*\", you haven't reduced the price, only the timeline when you pay it.", "replies": [{"id": "hpfjirb", "text": "The three years were according to the owner, he believes 1 of the 3 tenants will be leaving which he believes will trigger the need for ADA compliance. Thanks for the insight!", "replies": [{"id": "hpfrwxc", "text": "The need for ADA compliance is triggered by the 1970 design and construction.\n\nAny tenant will have unique needs.  If those needs differ from any current construction available in that space, and depending on your state's mandates as to ADA compliance (states can mandate higher and more aggressive policies / rules than the ADA, but never less so), you may need to do some upgrades, but none of those are required (and no state requires) for putting a new tenant in place.\n\nAs one person commented, some *tenancies* (note; not \"tenants\") may require an upgrade to occupy.  That's a different subject.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}]