Property Condition Assessments2019-09-09T09:05:14+00:00

GreenWorks Is Primarily Committed To Providing Attentive Services To Complete
High-Level Property Condition Assessments

Key Points That Will
Ensure That All Important Steps Have Been Taken

Property condition assessments (PCA’s) are essential for those who are trying to find out the condition of a property or real estate they are interested in purchasing. PCA’s rely on a walk-through survey, a document review, and an interview to determine the property’s condition. The results of the PCA are reported in a Property Condition Report (PCR). This information is then utilized to help the buyers and owners understand the maintenance and undertaking of such an investment.

 

Want The Most Out Of Your PCA?

Make Sure You’ve Got These 3 Important Checklists

 

SYSTEMS CHECKLIST:

  • Plumbing
  • Electrical
  • HVAC
  • Fire Suppression
  • Communications & Security
  • Specialty Systems
 

EXTERIOR COMPONENT CHECKLIST:

 

A: Structural

  • Foundation
  • Brewing Walls
  • Columns
  • Beams
  • Trusses
  • Joists

B: Site Component

  • Parking Lots
  • Sidewalks
  • Stormwater
  • Landscaping
  • Signage
  • Roads

C: Building Envelope

  • Roof Systems
  • Doors, Windows, and any other Openings
  • Wall Finishes and Cladding
 

INTERIOR COMPONENT CHECKLIST:

  • Wall Construction and Finishes
  • Ceiling Construction and Finishes
  • Floor Construction and Finishes
  • Cabinets and Countertops
  • Elevators and Escalators
  • Any Additional Features
 

 

Keep in mind that not every piece of property is the same, so be sure to add to your checklists
when there is a unique component or feature associated with the property.

Quality Control of Your Investment Starts With
Choosing The Right Consultants

 

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Be Sure to Address the Qualifications
Of Your PCA Consultant

 

When evaluating someone’s PCA qualifications, be sure to check that they have a Property Condition Assessment Certification and that they hold professional licenses of some sort; like General Contractor, Engineer, or Architect. Also, verify that they have experience in performing inspections. Knowing the background of your consultants will allow for a reference when tackling PCAs for different types of properties, like a commercial property.

 

Commercial Property Condition Assessments

 

Commercial Property Condition assessments are also guided by ASTM E2018 standards. The level of building condition assessment is guided by the purpose the PCA is to serve. However, in most cases it is more detailed than a residential one, so expect to pay more.

 

 

Maximize Your Investment By Knowing What To Expect
From The Property Condition Assessment Process

As with any organizational structure there are standards to go by. The industry standard guide for PCAs is the ASTM E2018 and it has 4 main components.

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WALKTHROUGH SURVEY

For this part of the assessment, the inspector will visually inspect the property for conditions of the systems and determine if there are any physical deficiencies and any unusual features. To ensure that the property condition assessment standards are being met during the walkthrough, make sure that these ten areas are covered.

– Roofing
– Plumbing
– Structural Frame and Building Envelope
– Building Site
– Heating
– Air Conditioning and ventilation
– Interior Elements
– Life Safety and Fire Protection
– Electrical
– Vertical Transportation (i.e. Elevators and Escalators)

Although there are areas that are deemed as “Out of Scope,” per the guidelines in the standards followed for Baseline PCAs, the ASTM E2018 allows for additional inspections and surveys to be added to the assessments. Some commons ones are: Insect and Rodent infestation, Mold, and FHA requirements, to name a few.

OPINION OF COSTS TO REMEDY PHYSICAL DEFICIENCIES

Once the first two steps have concluded and the information is collected the inspector will compose a list of physical deficiencies and calculate the estimated costs to remedy them. Those costs will fall into one of two categories: Immediate and Short-Term (no later than a year). These estimates and opinions will assist the investor in getting a general understanding of the physical condition of the property. Although some PCA companies have the resources to get you exact cost estimation, it is not a requirement.

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PROPERTY CONDITION REPORT

The end result of a PCA is a Property Condition Report (PCR). The PCR includes the scope of the inspector (and areas of enhanced due diligence that were agreed upon), and an in-depth overview of the inspector’s findings during the Document Review and Walkthrough, as well as any deviations to the standard guide. The Property Condition Assessment Report will include photo documentation, a description of the condition, and opinion of probable cost to remedy for any physical deficiency found.

TRUST THE BEST…

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