Property Condition Assessment Services
Ownership of commercial property requires a continually evolving plan with regard to maintenance, repairs, and long-term capital planning. VERTEX has extensive experience with the evaluation of commercial property, and we understand how real property condition impacts the business of our Clients.
VERTEX utilizes the latest iteration of ASTM’s Baseline Property Condition Assessment (PCA) Process (E2018) as a basis for our evaluations. PCAs completed under ASTM standards provide estimates of probable costs for changes or repairs that require immediate attention. The PCA also provides opinions concerning probable costs to remedy physical deficiencies that need to be made in the near future, usually within the first year or two. Our estimated renovation costs are based on current market rates, enabling stakeholders to project reasonable budget figures when considering property values.
VERTEX’s PCA reports exceed the requirements outlined by ASTM, and take the cost estimating and long-range budget forecasting a step further by including an additional Capital Needs estimate for longer term evaluations.