The standard Property Condition Assessment from Building Diagnostics Group follows the ASTM E2018 standard and is a cost-effective way to help you determine the condition of a property you intend to purchase, invest in, sell or insure, and what it will cost to maintain it in the coming years.
Building Diagnostics Group (BDG) specializes in aerial thermography and the non-destructive detection, investigation, and resolution of water intrusions on multi-family, commercial, industrial and institutional buildings throughout the nation. Our state-of-the-art technology and skilled team of professional thermographers combine to produce inspections of the highest quality.
What is a Property Condition Assessment?
Few properties are in perfect condition. A Property Condition Assessment (PCA), also known as a Property Condition Report (PCR), is an inspection of a commercial asset that identifies physical defects and deferred maintenance issues that could potentially affect its value. It provides an objective, professional opinion about the general condition of the property and is conducted in accordance with ASTM Guidelines.
ASTM International, which provides product standards for everything from surgical masks to ski bindings and traffic paint to fiberboard shipping boxes also provides guidance for the commercial real estate industry due diligence process. The applicable standard is ASTM E2018-15, the Standard Guide for Property Condition Assessments: Baseline Property Condition Assessment Process.
During the property assessment, the inspector visits the site and spends several hours or days doing a walk-through of the property and inspecting the building envelope, structural systems, HVAC systems, electrical systems, plumbing and more.
For each deficiency found, clients receive a report that fully describes the concerns or areas of deferred maintenance found during the inspection, with photo documentation and an estimate of repair costs. Inspection reports can be customized to meet a client’s requirements based on how the report will be used and its intended audience.
What Are the Benefits of a PCA?
Property Condition Assessment of commercial buildings can help investors, sellers, lenders, and other stakeholders:
- Make informed purchasing decisions
- Fully assess risks associated with the property
- Reveal design or construction problems, including structural issues, code violations, poor quality or workmanship, and inadequate systems
- Negotiate a more favorable price when major deficiencies are uncovered
- Obtain concessions from the seller
- Estimate the cost of repairs and replacements
- Refine future cash flow projections
- Reduce the building’s overall energy consumption
- Mitigate exposure to future liability
- Reduce insurance premium costs
Exterior cladding surveys are extremely cost effective and allow BDG to perform thorough and accurate surveys on large properties in days, not weeks. Typically, we can evaluate 10 to 15 low-rise apartment buildings in just a few days on site.
Infrared imaging enables us to evaluate the condition of exterior cladding systems by mapping areas of moisture entrapment and delimitation due to environmental stress. It can be used for many different cladding systems, from single coat stucco systems, to Exterior Insulation Finish Systems (EIFS), to siding.
BDG’s exterior and interior building inspections are all typically non-destructive, unlike sounding and other testing methods, and will not disturb occupants. Our experience in this specialized service is second to none!
If you are a buyer or lender who requires an ASTM standard Property Condition Assessment during due diligence to prevent unexpected costs or issues down the road, get in touch with Building Diagnostics Group at (888) 317-4568 or contact us online to discuss the details of your project. You can count on us to provide accurate results.