A Property Condition Assessment (PCA) and a Facility Condition Assessment (FCA) are similar reports that serve different purposes…in brief:
PCA, generally requested before a property changes hands or undergo a major renovation, and contains the following elements:
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- Characterization of the asset at a particular point in time,
- Forecasting the costs associated with correcting existing deficiencies,
- Establishing the scope and costs of potential upgrades or renovation, and
- Determining a plan for maintaining the property overtime.
FCA, periodically requested by asset managers with long-term capital planning needs, which shall:
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- Identify the asset in details,
- Display a more exhaustive inventory of existing systems and components,
- Provide specific data regarding repair and maintenance, and
- Allow for more accurate projections of capital expenditures overtime.
H & H Codes applies mathematical relationships between building element renewal needs and building systems deferred maintenance budget, based on each building element’s and or building system’s current replacement value, establishing a comprehensive rated schedule of values (scaled as: good, fair, poor or critical,) which assist property owners and managers in reaching immediate, and/or mid, to long terms budgetary goals.
- In general, H & H Codes serves as an independent consultant, providing PCA & FCA (Property & Facility Conditions Assessments)
Reports and Charts for several hotels & resorts, condominium & apartment towers, office & medical buildings, industrial & warehousing facilities…at start of the building’s commissioning and/or on-going lifecycle.
- Furthermore, H & H Codes engaged in preparing overall budgetary forecasts and cost-break-down estimates for a complete lifecycle of several facilities, beginning at the planning and design stages, and continuing during the construction and commissioning stages, towards the point of providing the facility management with a detailed short, mid to long terms allocation of spending.
ASTM E2018: Defines good commercial practice for conducting a baseline property condition assessment (PCA) of the improvements located on a parcel of commercial real estate by performing a walk-through survey and conducting research as outlined within the ASTM E2018-8 guidelines.
Deficiencies: The term deficiencies for buildings includes the presence of conspicuous defects and material deferred maintenance of a subject property’s material systems, components, or equipment as observed during completion of an PCA or FCA, excluding deficiencies that may be remedied with routine maintenance.
Maintenance: Property maintenance is best defined as any preventive or reactive maintenance action taken to keep a property fully functional, and operating in its best condition. Property maintenance includes responding to a building users’ maintenance requests, maintaining landscaping, servicing and repairing HVAC, electrical and plumbing systems, performing pest control, or even cleaning or painting common areas. Safety inspections are also an important component of property maintenance, as malfunctioning equipment (i.e. alarm systems) or unsafe conditions can be a major liability.
Replacement: A systematic approach to planning and budgeting for known future cyclical repair and replacement requirements that extend the life and retain the usable condition of facilities’ structures, elements and systems, not normally contained in the annual operating budget.
- H & H Codes’ PCAs and FCAs Reports Address the following building elements, include the following recommendations, and forecast the following budgets:
- H & H Codes‘ PCA Reports follows the IRAC formate (Issues, Rules, Analysis & Conclusion,) and begin with an “Executive Summary” describing the following:
Contact allen@hhcodes.com for additional info.
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