A building condition or property needs assessment identifies and documents the general physical condition and quality of improvements on a given property. CMC’s experienced professionals detect and present deficiencies that could have an adverse impact on the property’s cash flow, function, marketability and ultimate value. These reports encompass all aspects of the site and structure, including parking lots, drainage, walkways, roof, basement, structure envelope, interior, life safety, MEP systems and other significant areas or components.
CMC can also review system and component expected useful life and prepare a replacement/capital cost analysis. CMC's expected useful life and capital cost tables provide a method to identify, quantify, and budget the necessary funding for future major building repairs and replacements. Lenders and investors utilize this service as a proactive portfolio management tool. As properties age, expenditures for replacements and improvements are imperative to maintaining an asset's value. Inadequate replacement reserve may result in substantial physical deterioration of the asset, which will in turn adversely affect its collateral value and significantly increase an investor’s risk over term.
CMC offers four distinct Property Condition Assessment (PCA) report formats. Each is tailored to meet a specific requirement or standard. Each may be supplemented with custom useful life analysis and capital cost tables.
PCA Report Types
A comprehensive report which is prepared in conjunction with a Plan and Cost Review Report where demolition and/or renovation is involved in a project. The purpose of this report is to ensure existing conditions of the property and site are included and accurately accounted for in the proposed Plans and Specs for the project.
A basic report format which is limited in scope to “major” building components and systems. This report does not include replacement or repair cost(s) estimates. This report is intended to identify “major” building issues for informational purposes only.
A comprehensive report prepared in accordance with the ASTM E2018 Standard.
A specific report format prepared in accordance with FNMA/FHLMC requirements and DUS standards.