Property Condition Assessment
Tadco’s licensed professional and environmental engineers perform Property Condition Assessments to primarily service:
- Property managers
- Multi-unit co-op and condominium associations
- Lending institutions
- Commercial, multi-unit facilities
- Retail facilities
- Industrial warehouse and office spaces
- Childcare and educational facilities
A Property Condition Assessment (PCA) is a comprehensive evaluation of a property’s physical condition, conducted as part of due diligence during real estate transactions, leasing, or financing. It includes a detailed visual inspection of primary load-bearing systems, as well as mechanical, electrical, and plumbing components, along with a review of relevant documents. PCAs help identify immediate repairs, deferred maintenance, and long-term capital needs, giving clients a clear understanding of the property’s current state, potential concerns, and associated costs.
Tadco, a licensed Civil, Structural, and Environmental Engineering firm in New Jersey and New York, delivers PCAs adhering to ASTM E2018, the industry benchmark. As a licensed Reserve Study Specialist and an active member of the Community Associations Institute (CAI), Tadco also provides Reserve Studies tailored to the unique needs of condominium and co-op associations. Associations with Reserve Studies dated before January 8, 2019, or without any study, are required to complete an updated study by January 8, 2025.
What’s Included in a PCA:
Conducting a PCA starts with a visual inspection of the exterior of the primary load-bearing system and its surroundings. The inspection includes the foundation, interior common areas, roof, exterior walls, stairs, fire escapes, as well as plumbing-electrical-mechanical systems.
Following the inspection, the Property Condition Report (PCR) will be issued to the client within a prompt time frame. The PCR includes significant information pertaining to:
- Description of buildings, their components, major defects and related recommendations
- Cost estimate or recommendations for corrective action extent
- Tabulated cost of capital reserve projects
- Miscellaneous engineering consulting services as requested
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