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How we help
Property Condition Assessments
In addition to providing Phase I ESAs, RSB Environmental provides Property Condition Assessments and Commercial Building Inspections for a wide variety of clients; including, CMBS lenders, Fannie Mae/Freddie Mac lenders, and equity clients.
Most of our reports are performed to meet the standards set within ASTM E2018-08 guidelines.
What is a Property Condition Assessment?
A Property Condition Assessment (PCA) is a detailed evaluation of the physical condition of a commercial property or building. It is typically performed by a trained consultant or engineer and provides a comprehensive overview of the property’s condition, including its systems, components, and maintenance needs. A PCA is often required by lenders or investors during real estate transactions to assess the risks and potential liabilities associated with a property.
A visual evaluation of the property’s building envelope, structural systems, mechanical systems, and electrical systems is common for the assessment. In addition to reviewing relevant documents and interviewing key employees, the consultant will conduct any necessary tests and investigations. The resultant report gives a comprehensive assessment of the property’s condition, identifies any required repairs or upkeep, and evaluates any hazards or liabilities. Property Condition Assessments can assist property owners, purchasers, and lenders in making educated decisions and ensuring the property’s long-term viability.
Property Condition Assessment Scope
Property Condition/Structural Assessment:
The scope of work for the typical Property Condition Assessment will be based upon the Client Company Scope of Work if any and the American Society for Testing and Materials (ASTM) Standard E 2018-15. It will include the following:
As part of this assessment, a User Questionnaire will be forwarded to the User to complete and return to RSB. This questionnaire is intended to prompt the User to provide any relevant information to RSB. Relevant information would include previous related documentation, property capital expenses, and other pertinent information.
Why Choose RSB Environmental For Your Property Condition Assessments?
Frequently Asked Questions
A Property Condition Assessment, also known as a Property Condition Report or Commercial Building Inspection, is a complete inspection of a commercial real estate asset that includes all improvements and systems of each building on the property. It’s usually ordered as part of a commercial properties transaction’s due diligence.
Understanding the physical condition of a commercial property is crucial for its long-term value and purpose. This is where a Property Condition Assessment (PCA) comes in. PCA services can help property owners, buyers, and lenders identify potential risks and liabilities, comply with regulations, and develop maintenance plans to reduce future repair costs. These assessments are often required during real estate transactions to assess risks and ensure the viability of buildings and construction projects. By conducting a PCA, buyers and investors can make informed decisions about a property’s value and identify any potential issues before making a purchase.
It may be the lender’s or buyer’s responsibility to commission a PCA with an approved provider as soon as the loan application is submitted. After that, the PCA provider must find out who knows the most about the property and send them a pre-inspection survey. To obtain as much information as possible prior to a site visit, this survey will ask questions such as the age of the roof, the age of the windows, whether there is aluminum wiring or galvanized pipe, and so on.
When a commercial property is being purchased, sold, or financed, a Property Condition Assessment (PCA) is often conducted as part of the due diligence process. It is frequently needed by lenders and investors as a condition of financing or investment, and it can give prospective purchasers or owners with useful information on the property’s physical condition. Regular PCAs may also be undertaken by building owners or managers to examine the property’s ongoing maintenance requirements and any hazards or liabilities.
The time it takes to complete a Property Condition Assessment (PCA) varies based on the size, complexity, and age of the property, as well as the scope of the assessment. A site visit to the property is required to conduct a visual inspection and gather information from key personnel and documentation. The report detailing the property’s condition and potential issues can take a few days to a few weeks to prepare. The timeline can range from a few days to several weeks depending on the specific needs and circumstances of the property and client. Planning ahead and allowing enough time for the assessment is important.