ASTM-E2018, 2015 - MADCAD.com

ASTM

E2018-15 Standard Guide for Property Condition Assessments: Baseline Property Condition Assessment Process

Edition: 2015

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Description of ASTM-E2018 2015

ASTM E2018-15

Historical Standard: Standard Guide for Property Condition Assessments: Baseline Property Condition Assessment Process

ASTM E2018

Scope

1.1 Purpose—The purpose of this guide is to define good commercial practice in the United States of America 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 this guide.

1.1.1 Physical Deficiencies—In defining good commercial and customary practice for conducting a baseline PCA, the goal is to identify and communicate physical deficiencies to a user. The term physical deficiencies 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 the PCA. This definition specifically excludes deficiencies that may be remedied with routine maintenance, miscellaneous minor repairs, normal operating maintenance, etc., and excludes de minimis conditions that generally do not present material physical deficiencies of the subject property.

1.1.2 Walk-Through Survey—This guide outlines procedures for conducting a walk-through survey to identify the subject property's physical deficiencies, and recommends various systems, components, and equipment that should be observed by the field observer and reported in the property condition report (PCR).

1.1.3 Document Reviews and Interviews—The scope of this guide includes document reviews, research, and interviews to augment the walk-through survey so as to assist the consultant's understanding of the subject property and identification of physical deficiencies.

1.1.4 Property Condition Report—The work product resulting from completing a PCA in accordance with this guide is a Property Condition Report (PCR). The PCR incorporates the information obtained during the Walk-Through Survey, the Document Review and Interviews sections of this guide, and includes Opinions of Costs for suggested remedies of the physical deficiencies identified.

1.2 Objectives—Objectives in the development of this guide are to: (1) define good commercial and customary practice for the PCA of primary commercial real estate improvements; (2) facilitate consistent and pertinent content in PCRs; (3) develop pragmatic and reasonable recommendations and expectations for site observations, document reviews and research associated with conducting PCAs and preparing PCRs; (4) establish reasonable expectations for PCRs; (5) assist in developing an industry baseline standard of care for appropriate observations and research; and (6) recommend protocols for consultants for communicating observations, opinions, and recommendations in a manner meaningful to the user.

1.3 Considerations Beyond Scope—The use of this guide is strictly limited to the scope set forth in this section. Section 11 and Appendix X1 of this guide identify, for informational purposes, certain physical conditions that may exist on the subject property, and certain activities or procedures (not an all inclusive list) that are beyond the scope of this guide but may warrant consideration by parties to a commercial real estate transaction to enhance the PCA.

1.4 Organization of This Guide—This guide consists of several sections, an Annex and two (2) Appendixes. Section 1 is the Scope. Section 2 on Terminology contains definitions of terms both unique to this guide and not unique to this guide, and acronyms. Section 3 sets out the Significance and Use of this guide, and Section 4 describes the User's Responsibilities. Sections 5 through 10 provide guidelines for the main body of the PCR, including the scope of the Walk-Through Survey, preparation of the Opinions of Costs to Remedy Physical Deficiencies, and preparation of the PCR. Section 11 provides additional information regarding out of scope considerations (see 1.3). Annex A1 provides requirements relating to specific asset types, and where applicable, such requirements are to be considered as if integral to this guide. Appendix X1 provides the user with additional PCA scope considerations, whereby a user may increase this guide's scope of due diligence to be exercised by the consultant beyond this guide's baseline level. Appendix X2 and Appendix X3 outline the approach to Accessibility Surveys.

1.5 Multiple Buildings—Should the subject property consist of multiple buildings, it is the intent of this guide that only a single PCR be produced by the consultant to report on all of the primary commercial real estate improvements.

1.6 Safety Concerns—This guide does not purport to address all of the safety concerns, if any, associated with the walk-through survey. It is the responsibility of the consultant using this guide to establish appropriate safety and health practices when conducting a PCA.


TABLE OF CONTENTS
1	Scope
	1.1	Purpose
	1.2	Objectives
	1.3	Considerations Beyond Scope
	1.4	Organization of This Guide
	1.5	Multiple Buildings
	1.6	Safety Concerns
2	Terminology
	2.2	Definitions
	2.3	Definitions of Terms Specific to This Standard
	2.4	Abbreviations and Acronyms
3	Significance and Use
	3.1	Use
	3.2	Clarification of Use
	3.3	Who May Conduct
	3.4	Principles
	3.5	Prior PCR Usage
	3.6	Rules of Engagement
4	User's Responsibilities
	4.1	Access
	4.2	User Disclosure
5	Property Condition Assessment
	5.1	Objective
	5.2	PCA Components
	5.3	Coordination of Components
	5.4	Consultant's Duties
6	The Consultant
	6.1	Qualifications of the Consultant
	6.2	Staffing of the Field Observer
	6.3	Independence of the Consultant
	6.4	Qualifications of the Field Observer
	6.5	Qualifications of the PCR Reviewer
	6.6	The Field Observer and PCR Reviewer May Be a Single Individual
	6.7	Not a Professional Architectural or Engineering Service
7	Document Review and Interviews
	7.1	Objective
	7.2	Reliance
	7.3	Accuracy and Completeness
	7.4	Government Agency Provided Information
	7.5	Pre-Survey Questionnaire
	7.6	Owner/User Provided Documentation and Information
	7.7	Interviews
8	Walk-Through Survey
	8.1	Objective
	8.2	Frequency
	8.3	Photographs
	8.4	Scope
	8.5	Additional Considerations
9	Opinions of Costs to Remedy Physical Deficiencies
	9.1	Purpose
	9.2	Scope
	9.3	Opinions of Costs Attributes
10	Property Condition Report
	10.1	Format
	10.2	Writing Protocols
	10.3	Documentation
	10.4	Credentials
	10.5	Executive Summary
	10.6	Purpose and Scope
	10.7	Walk-Through Survey
	10.8	Document Reviews and Interviews
	10.9	Additional Considerations
	10.10	Opinions of Costs
	10.11	Qualifications
	10.12	Limiting Conditions
	10.13	Exhibits
11	Out of Scope Considerations
	11.1	Activity Exclusions
	11.2	Warranty, Guarantee, and Code Compliance Exclusions
	11.3	Additional/General Considerations
12	Keywords
Annex A1	GUIDANCE AND ENHANCED DUE DILIGENCE SERVICES
	A1.1	Multifamily Properties
	A1.2	Commercial Office Buildings
	A1.3	Retail Buildings

Appendix X1	GUIDANCE AND ENHANCED DUE DILIGENCE SERVICES
	X1.1	Qualifications
	X1.2	Verification of Measurements and Quantities
	X1.3	Research
	X1.4	Flood Plain Designation
Appendix X2	AMERICANS WITH DISABILITIES ACT (ADA) ACCESSIBILITY SURVEY
Appendix X3	FAIR HOUSING ACT (FHA) ACCESSIBILITY SURVEY

Keywords

ASTM; physical assessment report; property condition assessment (PCA); property condition report (PCR);

ICS Code

ICS Number Code 13.040.20 (Ambient atmospheres)

DOI: 10.1520/E2018-15

The following editions for this book are also available...

Year	Publisher	Type	Title	Annual Price
2001	ASTM	Model Standard	E2018-01 Standard Guide for Property Condition Assessments: Baseline Property Condition Assessment Process	$148.51	Buy
2008	ASTM	Model Standard	E2018-08 Standard Guide for Property Condition Assessments: Baseline Property Condition Assessment Process	$148.51	Buy
1999	ASTM	Model Standard	E2018-99 Standard Guide for Property Condition Assessments: Baseline Property Condition Assessment Process	$148.51	Buy
2023	ASTM	Model Standard	E2018-23 Standard Guide for Property Condition Assessments: Baseline Property Condition Assessment Process	$148.51	Buy
2024	ASTM	Model Standard	E2018-24 Standard Guide for Property Condition Assessments: Baseline Property Condition Assessment Process	$123.55	Buy
2024	ASTM	Model Standard	E2018-24 Standard Guide for Property Condition Assessments: Baseline Property Condition Assessment Process (Redline)	$148.51	Buy

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Description of ASTM-E2018 2015

ASTM E2018-15

Historical Standard: Standard Guide for Property Condition Assessments: Baseline Property Condition Assessment Process

ASTM E2018

The following editions for this book are also available...

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Description of ASTM-E2018 2015

ASTM E2018-15

Historical Standard: Standard Guide for Property Condition Assessments: Baseline Property Condition Assessment Process

ASTM E2018

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This book also exists in the following packages...

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