Property Condition Assessments
Make Informed Decisions About Your Building.
PHH ARCâ€™s Property Condition Assessment is the inspection and evaluation of the condition of your facility (ies).
Our Property Condition Assessments are completed in general conformance with the American Society for Testing and Materials (ASTM) Practice E2018-01, â€śStandard Guide for Property Condition Assessments: Baseline Property Condition Assessment Processâ€ť
A Property Condition Assessments is comprised of the following:
- Inspection of the building envelope (roof, walls, window systems, doors), interior finishes, electrical/mechanical systems and accessible structural components.
- Assessment of Fire/Life Safety and Exterior Site Features (ie: walkways, roadways, parking, landscaping, etc.).
- Written and photographic documentation of each component with observed deficiencies.
- Review of general documentation on repairs/maintenance history of each component, if available.
- Cursory review of drawings and/or previous reports pertaining to the building, if available.
- Interviews and discussions with on-site staff regarding repairs/maintenance history conducted on the building.
- Compilation of PHH ARCâ€™s findings in a formal written report, which includes observed deficiencies, a list of recommendations for repair/replacement with associated estimated costs for each component.
Why Conduct a Property Condition Assessment?
- Building acquisition or disposition purposes with regards to transactional due diligence.
- Real estate financing and anticipated capital costs over the term of the loan.
- Asset management purposes with regards to facility budgeting and forecasting.
- To understand the anticipated replacement costs or repair bills.
- To ensure the structure and components are in compliance with regulatory code.
- To understand the useful remaining life of each building component
- To anticipate capital expenditures and to maximize the life of building components.
- For occupant health, safety and comfort.
If you are a property owner and manager, asset manager, financial institution, mortgage brokerage, real estate investment trust, private investment firm, developer, government body, health care facility manager or education institution and would like to know more about PHH ARCâ€™s Building Science Divisionâ€™s services, please contact PHH ARC to learn more about how we can assist you to help better manage your properties.