STANDARDS OF PRACTICE
In 1999, the American Society for Testing and Materials (ASTM) published a Standard E2018-99, which defined “good commercial and customary practice for conducting a baseline Property Condition Assessment (PCA).” This standard was specifically written for commercial real estate and largely intended for commercial real estate transactions. The Standard was updated in July of 2008 and renamed E2018-08
Commercial property and building inspections (also known as Property Condition Assessments or PCA's) are important for clients seeking to know the condition of a property or real estate they may be purchasing, leasing, or simply maintaining. Our network of commercial building inspectors follow industry accepted guidelines of ASTM E2018. These commercial inspection standards help both the commercial building inspector and the client to understand the scope agreed to for the inspection including the systems or areas to be inspected, and is used as a guide to develop said scopes and procedures. Depending on client needs or accepted risks, and property types, some inspections can be fully technical requiring additional specialist contractors, or simply a general condition assessment utilizing one or two qualified commercial building inspectors. Of course each varying degree of inspection or assessment will incur various costs and time frames as agreed or negotiated between the commercial inspection company and the client or clients.
Once the inspection or Property Condition Assessment is completed, a written report (also known as the Property Condition Report or PCR) is compiled and delivered to the client within an acceptable time frame. The Property Condition Report may include such items as concerns observed, recommendations for repairs or further inspections, and Americans with Disabilities Act (ADA) compliance surveys.
Experienced commercial building owners, net lease occupants, and commercial property investors know the importance and benefits of hiring a qualified commercial building inspector to perform a Property Condition Assessment