Property Condition Assessment (PCA)
Smart Site Reviews provides independent property condition assessments and limited-scope condition reviews for commercial real estate lenders, investors, buyers and owners. We tailor each engagement to the client’s objectives – from a focused visual assessment of current property conditions to a baseline PCA that includes repair-cost opinions and, when requested, longer-term capital planning. Our assessments combine an on-site walk-through, review of agreed available information and practical construction judgment. We evaluate representative, reasonably accessible areas; identify significant readily observable deficiencies; and present our findings in a concise, photo-supported report designed for commercial real estate decision-makers.
Baseline Property Condition Assessment
When requested, Smart Site Reviews can perform a baseline PCA in general accordance with ASTM E2018-24. This service is a comprehensive assessment of readily observable property conditions, available documents and significant deficiencies.
The agreed scope may include:
- A walk-through survey of major property systems and components
- Review of available property documents and interviews with knowledgeable representatives
- Identification of material readily observable physical deficiencies
- Recommended corrective actions or additional evaluation
- Order-of-magnitude cost opinions for immediate and short-term repairs above an agreed reporting threshold
- Long-term capital-expenditure projections or reserve analysis when specifically included in the engagement
Limited-Scope PCA / Visual Condition Review
For clients who need reliable field information without a full repair-cost or capital-planning analysis, Smart Site Reviews offers a focused, limited-scope review of agreed property areas, systems or concerns. This service is a nonintrusive visual review documenting readily observable conditions and significant observed deficiencies through photographs and concise narrative findings.
Unless specifically added to the engagement, it does not include:
- Repair-cost estimates or opinions of probable cost
- Anticipated capital-expenditure projections
- Replacement-reserve schedules
- Remaining-useful-life projections
- Evaluation of systems or areas outside the agreed scope
Because this modified service omits certain elements of the ASTM baseline process, it is not represented as a baseline ASTM E2018-24 PCA. The specific areas reviewed, documents considered and report content are established with the client before the engagement begins.
Whether the assignment requires a baseline PCA or simply an experienced set of eyes at the property, Smart Site Reviews will help define an efficient scope matched to the property, transaction and decision at hand.
| Systems We May Review | Documents We May Review |
|---|---|
| Site and exterior improvements | Prior property condition reports |
| Structure and building envelope | Property plans or drawings |
| Roofing | Capital-expenditure history |
| Mechanical systems | Repair and maintenance records |
| Electrical systems | Roof information and warranties |
| Plumbing systems | HVAC schedules and equipment information |
| Interior and common areas | Elevator inspection or service information |
| Life-safety systems | Fire/life-safety inspection information |
| Vertical transportation | Recent major repair or replacement documentation |
| Other property-specific systems included in the engagement | Property management and ownership questionnaires or other relevant building-system information |
See our property condition assessment FAQs.