TYPES OF COMMERCIAL INSPECTIONS PROVIDED:
- Investor's Due Diligence ASTM E-2018 Property Condition Assessments (PCA)
- Commercial property inspections (Can be greater or less comprehensive than the ASTM E-2018 Property Condition Assessment)
- Acquisition Due Diligence ASTM E-2018 (PCA)
- Triple net lease inspections
- Loan origination inspections
- Loan servicing/site inspections
- Deferred Maintenance inspections
- Building Maintenance Budget Inspections
- WDI (Termite) Inspections
- Capital improvement confirmation
Type of Buildings Inspected:
- Office buildings
- Industrial properties
- Apartment buildings
- Strip malls
- Shopping malls
- Stand Alone Buildings (Quick Lube, Gas Stations, Day Cares, Walgreens, Best Buy, etc.)
- Combination Retail/Residential Buildings
- Banks, Restaurants, Bars
- Sports/Recreational Buildings
- Lodging Hotel/Motel
- Long-term care facility
All of our commercial inspections follow along the guidelines set by the ASTM E-2018 Standard Guide for Property Condition Assessments: Baseline Property Condition Assessment Process.
ASTM DUE DILIGENCE PROPERTY CONDITION ASSESSMENTS (PCA)
The ASTM E-2018 standards provide 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:
- Document review, interview of maintenance staff, vendors and local building departments.
- Walk-through survey as defined in the ASTM Standards
- 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)
- Property condition report (PCR) per ASTM standards incorporates the information obtained during the walk through survey, the document review, interviews, and opinions of probable cost.
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 standards "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 in Section 3.1: "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 level of due diligence to be exercised by the consultant".
This provision allows you to specify deviations that meet your individual needs and building type. These deviations would be mutually agreed upon and clearly stated in the engagement documents and final report.
Commercial Property Inspections
The scope of our commercial property inspections starts out with the baseline property condition assessment process as outlined in the ASTM E-2018 as the starting point.
Use of the ASTM E-2018 standards is applicable for many buyers and types of buildings. However, there are often needs that are better served through an inspection that deviates from these Standards and we call these Commercial Building Inspections.
These deviations may reduce the scope of the assessment due to financial and/or time constraints or exceed the scope of 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 deviate from the ASTM standards commercial property inspections.