ASTM DUE DILIGENCE PROPERTY CONDITION ASSESSMENTS

The ASTM E-2018 standards provides guidelines for performing a baseline (PCA) commercial property condition assessments and completing a (PCR) property condition report.

The (PCA) property condition assessment is to observe and report, to the extent feasible, on the physical condition of the subject property and consists of:

1. Document review, interview of maintenance staff, vendors and local building departments.

2. Walk-through survey

3. Preparation of opinions and probable costs to remedy physical deficiencies ($3,000 or greater per incident or an aggregate of $10,000 or more per building)

4. Property condition report (PCR) per ASTM standards

All of our property condition assessments use the baseline property condition assessment process as outlined in the ASTM E-2018 standards.

The assessment includes physical deficiencies defined as "the presence of conspicuous defects or material deferred maintenance of a subject property's material systems, components or equipment observed during the field observer's walk-through survey.

The stands "specifically excludes deficiencies that may be remedied with routine maintenance, miscellaneous minor repairs, normal operating maintenance, etc and excludes minimis conditions that generally do not present material physical deficiencies".

NOTE: The ASTM standards state the following regarding deviations form the standard:

"This guide also recognizes that there are varying levels of property condition assessment and due diligence that can be exercised that are both more and less comprehensive that this guide, and that may be appropriate to meet the objective of the user. Users should consider their requirements, the purpose that the PCA is to serve, and their risk tolerance level before selecting the consultant and the level of due diligence to be exercised by the consultant".

This provision allows you to specify deviations that meet your individual needs and building typ. These deviations would be mutually agreed upon and clearly stated in the engagement documents and final report.

These deviation may reduce the scope of the assessment due to financial and/or time constraints or exceed the assessment standards and include dismantling and operation of readily accessible key systems like HVAC, maintenance suggestions, long term replacement schedules and cost to remedy defects with no minimum cost threshold. We term assessment that exceed ASTM standards commercial property inspections

Property condition assessments and commercial property inspections include the condition, life expectancy and repair/replacement budgets for the roof systems, electrical services, common plumbing including hot water heaters, heating units, HVAC units  interior/exterior walls, floors, windows and finished areas along with the grounds and surface lots adjacent to the building.  When possible the report with include interviews with management and maintenance staff, providers of maintenance contracts on key equipment.

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