What Is a Property Condition Assessment?
A property condition assessment can reveal the value of a property and inform development teams about the next steps for their development project. PCAs include assessment of above-ground, readily accessible systems, review of documentation and visual inspection of physical components of the property and accessible common areas. While some engineering issues may be visible on a property, many hide beneath the surface and need a professional team to assess them before acquisition is completed.
In the project lifecycle, a PCA is valuable for building an effective plan to operate and maintain an asset while recognizing performance needs and sustainability requirements.
Similarly, clients often request Facility Condition Assessments for their own planning and budgeting purposes outside of the transaction period. Owners of properties who plan to hold onto a property for a long time find the assessments useful for planning capital improvements.