Buying, selling, leasing and managing commercial property is a complex endeavour. The Property Condition Assessment (PCA) is probably the least understood, yet one of the most important components of the pre-purchase or pre lease, due diligence process. The property inspector is generally the least expensive member of the team; yet they typically provide the greatest return on your investment.
What do you really know about the condition of the building? How many code compliance inspections are needed? Are your cost reserves for maintenance adequate? Are the balconies or fire doors in compliance? Are you properly assessing risks? When will the roof need replacement? Are there indoor air quality complaints? What maintenance expenses are you incurring?
The field of property condition assessment and facilities management is evolving. Simply knowing best construction practices is not enough.