Whether it is for the purposes of making a purchase, insurance risk evaluation, capital planning or use-conversion, there are many scenarios for which having a thorough Property Condition Assessment, or PCA, can be invaluable.
We’re often asked what exactly a PCA entails and when it makes sense to commission an assessment from construction consulting companies, so we’ll use this opportunity to shed some light on this area of expertise.
A PCA is a complex and comprehensive evaluation of the condition of a property, often conducted when someone is looking to make a purchase or other important business decisions. You can read more about the commercial property inspection process here.
Drawing from decades of construction experience and hundreds of property evaluations in Los Angeles, San Diego and across Southern California, Xpera’s team of consultants inspect properties to identify physical deficiencies and estimate the costs associated with maintenance, repairs or improvements. The resulting property condition report gives crucial, trustworthy information for organizations and companies to reduce their risk and gives them the opportunity to renegotiate the terms of the purchase, if necessary. The process typically takes one to two weeks to complete, although it is possible to finish it more quickly, if necessary.
Securing a well-researched, quality assessment is a vital step toward making an informed purchasing decision about real estate property. It allows you to determine not only the current condition of a building, but also whether the property will remain suitable for its specific purpose. The professional evaluation will include the unfavorable aspects that will impact future use and require additional repairs or renovations. It will help you gain a complete technical understanding of the asset and its critical features and provide you with your last chance to calculate in detail the risks associated with the facility.
Building codes and environmental standards are constantly changing. If the commercial property you own falls short of a municipal, county or state code, you will face a code violation. Any existing code violations must be identified and addressed in a timely manner to ensure safety, energy-efficiency and other requirements.
You shouldn’t assume that the property you want to buy complies with the current building codes and standards. Xpera Group can help you determine whether the building will need an upgrade. Observations of items that are not up to code will be addressed in a PCA report.
If you are a commercial property owner and plan certain renovations, you need to know what impact they will have on the condition of the facility and long-term planning, as well as how much it will cost to stay up to code. A PCA can provide you with those answers.
As companies evolve over time, there may be a need to modify or repurpose their property. For instance, if your operations are expanding, the current building may not allow your business to grow due to certain infrastructural restrictions. Another scenario is condo conversions.
This is when a facility assessment comes in handy. It will evaluate the condition of your asset and determine if your property can meet your new business needs.
A life-cycle cost analysis (LCCA) is an assessment tool that commercial property owners employ when they want to gather financial data to make sure their initial investment is justified and cost-effective in the long-run.
The evaluation of the building condition and calculation of repair and replacement costs can help you decide whether to invest in such things as energy-efficient systems and new materials. The investigation will show you which systems can pay for themselves in a short period of time.