Investing in a Commercial Project? Then You’ll Need a Lettable Area Survey
If you’re investing in a commercial project or even a residential or industrial one for that matter, then you’re going to need an accurate lettable area survey. But what is a LAS and why would you need one? How will it benefit you? Read on with this article and find out more!
What is a LAS?
First of all, a lettable area survey is an accurate representation of a space (e.g., offices, shops etc), detailing the exact layout. This information will allow you to find out exactly how much space is available to you, and how best to divvy it out. So, let’s say you have a commercial building which is due to be turned into offices…You’re going to need a LAS before you can start planning how best to use the space available to you. How many offices can you fit into space? How big are they going to be? Will they all be the same size?
That kind of information will help you measure out your offices accordingly so that you can price up rental agreements/sales and start moving forward from there.
Why is it Important for them to be Accurate?
Well, there really is no excuse for them not to be accurate. That said, for the sake of argument let’s give you a couple of reasons why it helps for them to be on point:
Avoid rental disputes: If you offer accurate measurements, then there can be no question as to how much a tenant is paying for space. If you provide them with a “price per sqm” and then the precise measurements, then you will be protected.
It makes contractors lives easier: You can’t expect an office re-fitting company to start planning a renovation without offering them accurate measurements? If you want the best results, they have to be precise.
How Can I Go About Getting a Lettable Area Survey?
You’ll need to find a reputable company to assist you with this. There are some who would prefer not to bother as it may seem like yet another unnecessary “expense.” However, we cannot stress to you enough just how valuable an LAS is.
So, if you need one, then you should find the most appropriate company for you. You can do this by heading online and comparing a number of different companies. Consider things like price, experience, references and testimonials.
You can also speak to colleagues and associates to see if they have had any dealings with certain companies before. It’s always worth relying on personal recommendations to find the best possible fit for what you’re looking for.
And of course, you’ll want to work with a company that is fully certified. Every LAS must be drawn up in accordance with the method of measurement set out by the Property Council of Australia.
The fact is, when it comes to taking part in such a big project it is always important to be prepared. The more information that you have regarding the property that you’re involved with, the better. Again, this information is invaluable for figuring out how much space you have, what you can charge and how you can divide it between various tenants. Additionally, the info is invaluable for contractors who will be helping you renovate and improve the property. In any case, your best bet is to get in contact with a reputable surveying company today so that you can get the ball rolling and have some plans drawn up immediately! Good luck!