ASTM
International E 2018 Standards Highlights
Baseline Property Condition Assessment
Scope
Purpose—The
ASTM E 2018 guideline defines good
commercial and customary 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.
Physical Deficiencies—The
ASTM E 2018 guideline defines good
commercial and customary practices for
conducting a baseline PCA, the goal is to
identify and communicate physical
deficiencies to a user. The term
physical deficiencies
means the presence of conspicuous defects or
material deferred maintenance of a subject
property’s material systems, components, or
equipment as observed during the field
observer’s walk-through survey. 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.
Walk-Through Survey—
The ASTM E 2018 guideline outlines
procedures for conducting a walk-through
survey to identify the subject property’s
material 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).
Document Reviews and Interviews—
The ASTM E 2018 guideline includes
procedures for 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.
Property Condition Report—The
work product resulting from completing a PCA
in accordance with the ASTM E 2018
guidelines is a 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 probable costs for
suggested remedies of the physical
deficiencies identified.
Objectives—Objectives
in the development of the ASTM E 2018
Standards are:
(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 practical 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.
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 buildings
on the subject property.
To obtain additional information please
contact:
ASTM International
100 Barr Harbor Drive
West Conshohocken, PA 19428-2959
Or call us at 800.714.7230 for a copy of the
ASTM E 2018 Standard Guidelines
