Residential & Commercial Property – the differences

The Differences Between Residential and Commercial Properties

              With so many buying options available, new home builders and purchasers can often struggle to come to a decision when it comes to insuring their property. Let’s take a look at the differences between both residential and commercial properties, including their responsibilities, advantages and expectancies.

              The main difference between residential and commercial properties is the way in which they function. A residential property would refer to a location that is inhabited, due to be inhabited or has previously been inhabited by people. This can be a place that is rented including an apartment, as well as a property that is owned or co-owned by an individual or company with the intention to occupy it for living in.

              A commercial property however, is a property that is used for commercial reasons, including for advertisement or publicity. This includes store fronts, shopping malls and similar buildings. There are certain circumstances which lead a property to be branded as commercial, particularly in apartment blocks where the residents pay for rent and building maintenance as part of their contract. If the building is owned by an individual or organization with the intention of making profit, then the location would be deemed a commercial property.

              As a result, commercial properties would have to undergo commercial structural repairs in the instance of renovations and repairs being undertaken, while residential properties would undergo residential construction and residential renovations. Although the terms differ, both types of property are subject to building renovations whenever necessary.

              As a residential property, the home may be subject to residential additions if the home owner wishes to do so. Commercial properties on the other hand are legally obliged to include certain features for safety and access, such as wheelchair ramps, elevators and so on. Although a residential property owner is not obliged to repair their home by law, they may be held responsible if the condition of their property leads to loss, damage or injury of an occupant or member of the general public.

              So what sorts of things can you expect as a residential or commercial property owner? Well both are still permitted to undergo building extensions if the owner decides to do so; but planning permission is typically required before any work is undertaken. This doesn’t limit work done inside, unless the project will involve affecting the foundations of the property (removing walls, replacing frames and so on).

              If you have a project in mind and want to get it moving as soon as possible, why not get in touch with Kaleidoscope at today? They offer a great range of commercial structural repairs, residential additions and building renovations in general. For all of your building and construction requirements, simply get in touch with their friendly team and they’ll be more than happy to discuss your options with you.