Property Condition Assessment
A property condition assessment (PCA) is a report generated by an engineer describing the current physical condition of the property and its major building systems (ie – HVAC, parking lot, and roof). If needed, the report also determines an amount for calculating replacement reserves.
Major structural, electrical, plumbing and HVAC components of each structure, as well as site improvements, are carefully examined for condition, status of completion, general code conformance, life cycle costs, sufficiency for their intended use, and extent of defects and depreciation in a property condition assessment report. A firm conducting a property condition assessment generally takes the following steps in conducting the PCA: interviews site personnel, performs document reviews, and conducts walk-through surveys noting the physical condition of the building systems and components with any deferred maintenance or deficiencies observed.