Image is something businesses work hard to maintain. The company building, along with the many fixtures and décor speak of your company’s values and culture. Businesses therefore ensure that their physical establishments remain in top condition by undergoing periodic building inspection and securing a property condition report.
A property condition assessment or PCA is an engineering due diligence project. A PCA is usually done for commercial real estate, and involves a thorough inspection of the entire establishment. Assessment is conducted per room; examining the walls, ceilings, doors, power, and all other pertinent fixtures and utilities. Specifically, property condition assessment services comprise anchor property condition, mechanical system, electrical and plumbing system, fire and life safety system, structural and seismic and disabled access assessments. Other services include construction observation, owners’ representation, and a third party peer review.
A PCA is also a prerequisite to property transfer; and is performed as part of a Phase 1 Environmental Site Assessment. This assessment is the first step in due diligence in any commercial real estate transaction. If executed properly, Phase 1 Environmental Site Assessment can protect real estate investors from assuming the liabilities caused by previous landowners or tenants.
A due diligence real estate inspection is a procedure that apartments, hotels and similar industries typically undergo. Other than inspection, the PCA involves owner and management interviews, regulatory research, and document and plan reviews. These procedures are conducted on-site by professionals; and information is gathered and presented in a narrative report with photos, and repair and capital reserve estimates.
Property due diligence is necessary to investigate the property’s condition prior to signing a contract or agreement. This is crucial for those buying, selling or leasing real estate or people securing a title insurance policy. Property due diligence is also considered a legal obligation but most often a voluntary investigation for those into real estate.
A company like Property Condition Assessments, LLC (PCA) is an engineering and architectural consulting firm you confer with for complete PCA services. Their company has over 20 years of multi-disciplined experience in the industry to provide the quality assessment you need. Both small and large commercial real estate establishments can consult them for a no-obligation quote to learn more about how due diligence can help real estate investors and buyers.
Property Condition Assessments, LLC (PCA) also provides the services pertinent to environmental site assessment. Other than the Phase 1 Environmental Site Assessment, they also conduct Phase II investigations, and asbestos and indoor air-quality assessments. You can visit their website to learn more about their services and how they can help your business.