What is a PCA?
Property Condition Assessments (PCA) are an important tool for anyone associated with commercial real estate. The findings are useful when performing or responsible for purchasing, leasing, financing or maintaining commercial real estate.
A PCA is similar to a checkup at the doctor where you obtain a snapshot in time of your building’s condition or “health” with emphasis on any defects that are present or may become present in the near future. Following the baselines set in ASTM E2018, the PCA is broken down into the following sections: property grounds, frame & envelope, interior elements, plumbing, electrical, HVAC, life safety, roof, conveyances and utilities. Utilizing an experienced inspector, we visit the property and visually examine the building’s components both externally and internally as well as any major building equipment. Data is collected on the building and major equipment. Any information that cannot be obtained during the site visit is supplemented with a brief interview with someone knowledgeable on the property.
Once the site visit and interview are conducted, a report is generated with our findings. The first few pages of the report contain a summary of key findings with repair and replacement cost estimates. This synopsis allows for an executive to quickly absorb the findings of the report. For further detail, every component of the property is then displayed in a sectional format with all findings and photographs displayed. Lastly, all major equipment and utility information is displayed in one concise summary page.
Our standard guarantee is no more than 10 business days from PCA request to report deliverable however we do offer expedited terms depending on individual circumstances. The volume of requests and locations of the properties will also affect the deliverable date.
How do we perform a high-quality inspection in a short period of time?
We utilize a three-pronged approach – project manager, inspection network and our Versentia software. The project manager is assigned to oversee the entire project from beginning to end. The PM would work with the client to ensure that the client’s needs are exceeded and ultimately represented in the PCA report. This occurs by efficiently communicating any special client requests with the field inspector.
Currently, we have a network of over 100 highly trained and experienced inspectors available throughout the country. To help centrally manage the field inspectors, we have partnered with a vendor management platform. This platform allows us to ensure that each inspector meets our standards by performing background checks and certifying basic safety training. We are actively recruiting and expect to grow our network exponentially.
Finally, we utilize our Versentia digital data collection platform. Versentia is a powerful inspection software tool that allows for consistent data collection out in the field combined with seamless reporting to the client. The inspector would utilize the Versentia app on their smart phone to collect all of the data and take photographs. Once the data is uploaded, Versentia is able to generate a professional report. In addition, Versentia utilizes machine learning and AI to perform audits on the inspections for any inconsistencies as well as potential useful life and replacement cost estimates.