Successful real estate investment and facilities management rely on a clear understanding of the risks and costs associated with ownership. HICAPS’ Property Condition Assessment (PCA) Surveys and Reports provide our clients with a clear understanding of the baseline condition of a property and the estimated costs of addressing material physical and mechanical deficiencies.
Our PCAs are performed by experienced construction professionals according to ASTM E2018-08, Standard Guide for Property Condition Assessments: Baseline Property Condition Assessment Process, and consist of the following:
- A review of available construction documents, public records, insurance company assessments, fire marshal inspection reports, and service contractor reports
- A visual inspection to observe, analyze, and document existing conditions
- A presentation of the information and photo documentation gathered along with opinions of the probable costs to repair material deficiencies and replace equipment that is at or near the end of its useful life
- Recommendations for further inspection of any issues discovered that cannot be fully analyzed through visual observation alone
Expanded Facility Condition Assessments are broader and deeper evaluations of a property, its improvements, components and systems and often include comprehensive Life-cycle Cost Analysis. Facility owners and operators, lienholders, and real estate buyers and sellers are among those currently benefitting from HICAPS’ Property and Facility Condition Assessments.