Property Condition Assessments
Purpose
Our Property Condition Assessments (PCAs) are conducted in conformance with ASTM E2018-15. ASTM guidelines define good commercial and customary practice for conducting a baseline property condition assessment of the improvements located on a parcel of commercial real estate by performing a walk-through survey and conducting research as outlined within the guide. We develop practical and reasonable recommendations and expectations by performing site observations, document review, and research, and interviews.
In defining good commercial and customary practice for conducting a baseline PCA, the goal is to identify and communicate physical deficiencies of the property to the user of the report. The term physical deficiencies means the presence of conspicuous defects or material deferred maintenance of a subject property’s material systems, components, or equipment as observed during the inspector’s survey of the property. One of the major differences between a Property Condition Assessment and a Comprehensive Commercial Building Inspection is the inclusion of Opinions of Probable Costs to Remedy Physical Deficiencies and additional research & documentation for PCAs.
Survey
Walk-Through Survey—The guide outlines procedures for conducting a walk-through survey to identify the subject property’s physical deficiencies, and recommends various systems, components, and equipment that should be observed by the field observer and reported in the property condition report (PCR).
Research
Document Reviews and Interviews—The scope of this guide includes document reviews, research, and interviews to augment the walk-through survey so as to assist the consultant’s understanding of the subject property and identification of physical deficiencies.
Cost Estimates & Useful Life
We can estimate remaining useful life expectancy of important components and systems, provide optimum maintenance protocols, recommend upgrades for energy efficiency and cost savings and prepare cost estimates for required immediate, short term, ,and long term repair and replacement. This information is all developed for your use; we provide you with all the information that you, your attorney and your lender need to structure a favorable real estate transaction, or to develop short-term or long term forecasts for property you currently own or lease.
Property Condition Report
The work product resulting from completing a PCA in accordance with ASTM is a Property Condition Report (PCR). The PCR incorporates the information obtained during the Walk-Through Survey, the Document Review and Interviews sections of this guide, and includes Opinions of Probable Costs for suggested remedies of the physical deficiencies identified.
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Our job is to provide you with a comprehensive, fair, independent, objective evaluation so that you can understand and take care of your valuable investment
Capital Needs Assessments & Maintenance Planning
Building condition assessments and inspections for building owners, managers, tenants, and lenders.
