A property condition assessment (PCA) includes a review of a commercial building’s systems to evaluate deferred maintenance items that can materially affect the operation and value of a property. Building systems that may be assessed include the foundation, roof, HVAC, electrical, plumbing, structural analysis of foundations, vertical transportation, accessibility features, landscaping, paving, fire safety features and building envelope (windows and walls). The report that comes out of this commercial property condition assessment can help the client understand how the condition of the building will impact the asset’s financial performance. A property assessment for commercial buildings is appropriate for real estate transactions that are larger in nature, such as a warehouse, office space or apartment complex.
BE Structural offers property condition reports per the ASTM E 2018 standard, which defines good commercial practice in the United States of America for conducting a baseline commercial building property value assessment. The report consists of a walk-through survey that includes extensive photo documentation, a document review and interviews to augment the survey. It also includes opinions of probable costs for suggested remedies of the physical deficiencies identified. The report does not identify minor repairs or maintenance items which are part of the property owner’s current operating budget, as long as those items appear to be taken care of on a regular basis. Instead, the report addresses infrequently occurring “big ticket” maintenance items that normally involve significant expense or outside contracting, such as foundation failures or flaws in foundation design.