Lockatong Engineering’s Property Condition Assessments
Lockatong Engineering Property Condition Assessment (PCA) reports contain information about the structure and its components vital to investment and financial decision making. The scope of our investigation addresses our client’s unique concerns and risk-tolerance, while the PCA report provides appropriate due diligence for the real estate transaction.
Our PCA reports comply with ASTM Standard E 2018 “Standard Guide for Property Condition Assessments: Baseline Property Condition Process.” Customized or abbreviated reports and formats for special needs and time-sensitive reports have been developed.
We provide a list of current deficiencies and areas of deferred maintenance along with the cost to cure these deficiencies. Lockatong’s Property Condition Assessments report also contains a table of capital reserve requirements. In our standard PCA report, we evaluate these areas:
- Topography
- Drainage
- Paving and Curbing
- Flatwork
- Landscaping
- Substructure
- Superstructure
- Exterior
- Roof
- Plumbing
- HVAC Systems
- Electrical
- Vertical Transportation
- Security
- Fire Safety
- Interior
- Amenities
- Accessibility
- Regulatory Compliance
- Maintenance
- Reserves
Lockatong Engineering can also provide an “Engineering Survey” Inspection for those looking to convert their current building (i.e., apartment building, multi-family home) into a condominium. The New Jersey Administrative Code (N.J.A.C) requires this as part of the Public Offering Statement for the condominium. Our report complies with New Jersey Administrative Codes 5:24-1.5(d) and/or 5:26-9.1. The “Engineering Survey” is a visual inspection by a licensed Professional Engineer and a narrative report is generated with a description of all applicable items of the building as well as their condition.
Energy benchmarking of commercial buildings is currently required in 3 states and 27 cities in the United States. It is expected to grow throughout the country and the US DOE and EPA have started developing databases to compile energy consumption. Just recently, ASTM International has developed Standard ASTM E3224 Standard Guide for Building Energy Performance and Improvement Evaluation in the Assessment of Property Condition. The standard complements the work completed during a typical PCA per Standard E2018 and assists with building energy benchmarking. The building energy performance and improvement evaluation (BEPIE) provides property owners a comparative evaluation of building energy consumption with similar buildings to assist in decision making for acquisition, capital equipment replacement and future building operations.
