BaselineBaseline Property Condition Assessments
PROPERTY CONDITION ASSESSMENTS
The extent of the Property Condition Assessment (PCA) encompasses a visual evaluation of the following aspects: the structural framework (walls, columns, beams, open web steel joists, and corrugated steel roof decking); the building envelope (exterior spaces, roof systems, building framework, interior spaces, foundation); the mechanical systems (Heating, Ventilation and Air Conditioning [HVAC], unit heaters, domestic hot water [DHW], plumbing); the electrical systems; pest control; life safety and fire protection; and air quality. The report furnishes a fundamental depiction of the various key constituents of the Site Building, along with a compilation of identified deficiencies pertaining to the examined components. Additionally, the report offers recommendations for system maintenance aimed at extending service life, as well as assessments of probable costs for rectifying physical shortcomings, accompanied by a 10-year repair cost schedule.
ASTM E2018-15 Standard
This standard outlines a baseline process for conducting Property Condition Assessments (PCA) to understand the condition of real estate properties. It is designed to help users identify and understand physical deficiencies in a property that may affect its value, functionality, and continued use. The ASTM E2018-15 Standard provides a systematic procedure for inspecting commercial properties, including methods for documenting a property’s condition, guidelines for assessing various building systems (such as structural integrity, roofing, plumbing, electrical systems, etc.), and protocols for reporting findings. It is an essential tool for property owners, buyers, investors, and real estate professionals to make informed decisions based on the current state of the property. The 2015 revision of this standard (denoted by the "-15") includes updates to reflect the latest industry practices and technological advancements in property assessment.