Property Condition Assessments (PCAs)
A property’s physical condition impacts the viability of real estate transactions, as well as development and redevelopment plans for that property. Significant physical deficiencies, such as obsolete HVAC systems or failed parking surfaces, directly affect the profit margins of investment properties and may create hindrances to property upgrades. Property Condition Assessments (PCAs) identify these issues early in the project allowing stakeholders to take them into account—limiting the potential for future loss. PCAs are also often required by lenders in order to secure financing.
PCAs provide estimates of probable costs for changes or repairs that require immediate attention (Deferred Maintenance Items). A PCA also provides opinions concerning probable costs to remedy physical deficiencies that need to be made in the near future, usually within a year or two (Short-Term Repairs). Estimates are developed based on current market rates, enabling stakeholders to project reasonable budget figures when considering property values.
Capabilities
- ASTM-Trained Staff
- Due Diligence Support
- Asset Inventory
- Asset Management Database Development
- Capital Cost Projections
- Property Risk Analysis
- Useful Life Projections
