COMMERCIAL PROPERTY CONDITION ASSESSMENTS

What Is a  Commercial Property Condition Assessment?

Put simply, a PCA is the commercial version of the home inspection that lenders require, prior to a residential purchase. It provides risk mitigation for the buyer and the lender and, potentially, an opportunity to renegotiate the price based on the true condition of the property.

What’s different in a PCA versus a home inspection is the complexity of the investigation. From the physical size of property improvements to the complexity of HVAC, electrical, plumbing, roofing and other systems, a commercial property requires a much more detailed and knowledgeable investigation to ensure proper due diligence.

It’s important to know that not all PCA providers are created equal. Some individuals with a home inspection certification will try to sell themselves as a PCA provider, with only ten hours of residential-specific training. Such a provider won’t have adequate knowledge of commercial structures and systems to provide a reliable assessment, and almost certainly won’t be able to provide an accurate cost estimate.

Even reputable PCA providers vary in the level of service, speed of service, and number of disciplines their company brings to the table.

When choosing a PCA provider, look for these characteristics:

Ability to get on site fast to start the process:

Local or regional offices in the property will help with this, as well as a track record of speedy response, and the availability of resources to mobilize quickly.

Ability to provide accurate costing:

Anyone can use an online construction cost estimator and put a number in a chart, but a company with a construction consulting division and the ability to instantly access real-time costing data will provide much more accurate numbers.

Multi-disciplinary expertise.

PCAs require a broad understanding of everything from architecture to mechanical, electrical and plumbing systems. A provider with in-house expertise on a broad range of engineering and construction disciplines will be able to provide a more accurate and comprehensive assessment.

 

Proven experience:

An organization that has done hundreds of PCAs will provide a faster, more seamless, and more reliable assessment than a less experienced provider.

 

PROFESSIONAL PROPERTY INSPECTORS (PTY) Ltd. has been performing fast, accurate property condition assessments for more than twenty years. Our multi-disciplinary team has access to the deepest expertise and the latest construction cost data. Contact us today to get your next PCA started.