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Property Condition Assessments

Criterium-Peters Engineers' Property Condition Assessment is a comprehensive due diligence service designed to meet the objectives for your real estate portfolio, whether you represent a commercial real estate owner or manager, institutional investor or investment banker. Criterium Engineers works with clients to understand those objectives, to develop scopes and formats to serve those needs, and to deliver comprehensive and high quality property condition reports. 

Our property condition reports contain information about a structure its components which are vital to investment and financial decision-making. The property condition Assessment and corresponding report provide appropriate due diligence in a real estate transaction with regards to a property's physical condition. Furthermore, our property condition reports comply with and exceed industry standards which include the Standard and Poor as well as ASTM 2018. If neccessary to suit your special needs or time constraints, we can offer customized or abbreviated property condition reports and formats.

 

The scope of our investigation is designed to address the unique concerns and risk tolerance of our clients. We provide a list of current deficiencies and areas of deferred maintenance along with the cost to cure these deficiencies. At the end of our report is a table of capital reserve requirements.  In our standard property condition report, we evaluate the following:

TOPOGRAPHY

  • General topography of the area and the site
  • Size and shape of the site
  • Slope and direction
  • Other topographical features (e.g., ravines, banks, and bodies of water, whether natural or man-made)
  • FEMA flood zone
  • Seismic zone

DRAINAGE

  • Evidence of inadequate drainage
  • Signs of flooding
  • Effectiveness of storm water management
  • Ownership of streams, ponds, or other natural waterways
  • Drainage from other properties
  • Drainage affecting other properties
  • Issues with regulatory agencies

PAVING & CURBING

  • General ease of access
  • Issues arising from access and number of spaces
  • Condition of the materials used
  • Cracking of paving, potholes, ponding, missing curbs, or faded striping

FLATWORK

  • Cracking, heaving, settlement
  • Surface spalling
  • Tripping hazards

LANDSCAPING

  • Landscaping on the site
  • Natural features
  • Signage
  • Exterior lighting, type of lighting, and what areas are lit
  • Retaining walls

SUBSTRUCTURE

  • Dimensions
  • Details of reinforcing, and any soil or bearing information
  • Settlement, heaving, bowing, out of level or plumb, excessive cracking
  • Water penetration problems

SUPERSTRUCTURE

  • Basic structural system 
  • Dimensions
  • Resistance to lateral loads
  • Special seismic considerations
  • Misalignment or cracking of nonstructural elements
  • Signs of distortion in the building

EXTERIOR

  • Type of materials, construction & finishes
  • Flashing, caulking, and sealants
  • Bond, mortar joints, weep holes, lintels, and spacing and construction of expansion joints 
  • Architectural features
  • EIFS detail
  • Hardboard siding
  • Water intrusion through facade
  • Fogged double-pane windows
  • Balconies, stairways, treads & railings

ROOF

  • Roof slope and drainage
  • Type of roof membrane, thickness, age, brand name, and warranty 
  • Walkways to protect the roof
  • Perimeter parapets  
  • Roof penetrations
  • Flashing and counterflashing
  • Maintenance
  • Signs or history of roof leaks  
  • Insulation

AMENITIES

  • Outbuildings, swimming pools, tennis courts, playgrounds, etc.

 PLUMBING

  • System & materials
  • General condition
  • Quality and workmanship
  • History of plumbing problems
  • Signs of corrosion and leaks
  • Results of spot check of fixtures

HVAC

  • Brand names, capacities, and ages
  • Fuel storage and delivery systems
  • Cooling towers, controls 
  • Energy-saving features
  • How fresh air is introduced

ELECTRICAL

  • Transformers
  • Service entrance
  • Utility company
  • Voltage, amperage, and phase
  • Electricity metering
  • Watts per square foot
  • Major uses of electricity
  • Brand names of major panels and switchgear
  • Emergency power supply
  • Maintenance and testing
  • Lightning protection

VERTICAL TRANSPORTATION

  • Number, type  & location
  • Brand names, capacities, speed in fpm, and floors served
  • Machine rooms and pits
  • Type of controllers
  • Smooth, level with the floor
  • Complaints, maintenance, current elevator certificates

SECURITY

  • Devices, fences, key, card, or security guard)
  • Type of surveillance equipment
  • Unusual measures
  • Signs of problems

FIRE SAFETY

  • Types of alarm systems; pull stations; smoke, CO, and heat detectors; and flow alarms
  • Fire control panels
  • Fire suppression system
  • Specially protected areas
  • Current inspection certificates
  • Exit signs & emergency lighting

INTERIOR

  • Interior finishes and layout
  • Floors, walls, ceilings, doors, and other fixed interior elements
  • Common areas (e.g., lobbies, atriums, cafeterias, fountains, interior plants, sculpture, and artwork)
  • Tenant spaces

ACCESSIBILITY

  • ADA & FHA compliance
  • Parking, access, restrooms, elevators, drinking fountains, fire alarms, signs, telephones, ATM terminals, corridors, doorways, switches

REGULATORY COMPLIANCE

  • Code violations
  • Certificates of Occupancy
  • Local policies and practices

MAINTENANCE

  • General level of maintenance
  • Staff & experience
  • Logs & records
  • Service providers

RESERVES

  • Immediate deficiencies that represent threats to life, safety or continued use of the element.
  • Opinion of probable cost for capital expenditures over the term