Property condition assessments (PCAs) are due diligence projects associated with commercial real estate. Commercial property and building inspections (also known as Property Condition Assessments or PCA’s) are important for clients seeking to know the condition of a property or real estate they may be purchasing, leasing, financing or simply maintaining. Our Assessors follow industry accepted guidelines of ASTM E2018, the only recognized standard of major lenders. PCAs are done as part of a property transfer and are done along with a Phase I Environmental Site Assessment.
As Part of a PCA, a visual inspection will be performed to identify the existing conditions of the following building components (as applies to the subject property):
• Heating System
• Plumbing System
• Ventilation System
• Fire Protection Systems
• Electrical Systems
• Air-conditioning System
• Roofing System
• Exterior Components
• Interior Components
• ADA Tier 1 survey
This assessment meets or exceeds the ASTM Standard E2018-15 for Property Condition Assessments.
This report provides recommendations, preliminary cost estimates and priorities for:
• Remedying major deficiencies
• Updating aging major components
• Undertaking further detailed investigations
The recommendations are for remedial actions that are considered to be beyond the normal maintenance of the building. Costs are provided for recommendations expected to exceed $3,000. The costs provided are only intended to provide an order of magnitude. Contractors should be contacted for exact quotations. Our inspection is limited to components which are readily visible and not obstructed by storage, finishes, vegetation, etc. No comment will be offered on building code and building bylaw compliance.
The scope of the assessment is to carry out a prior to purchase PCA which is focused primarily on major facility systems and the major issues that could affect the successful financing of the property.