Physical Needs Assessment
Offering full real estate due diligence services with a team of registered professionals, OGI Environmental (OGI) has been conducting Physical Needs Assessments (PNA) and Property Condition Assessments (PCA) for properties throughout the United States since 2005 (See our full list of clients). Specializing in multi-family residential housing, OGI has worked for major lenders following ASTM Standards and Fannie Mae and Freddie Mac guidelines and has the ability to customize reports to the specific needs of the client.
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Property Conditions Report
The purpose of our assessments is to provide the client with a straightforward and understandable reporting of property conditions subsequent to an on-site review and to document the physical condition of the property and to identify material physical deficiencies of building systems and components. Typically these include: the structural frame and building envelope, roofing, plumbing, HVAC, electrical, vertical transportation, life safety/fire protection, and interior elements, such as appliances, flooring and interior walls and ceilings. Additionally OGI inspects site characteristics including, storm water drainage, paving, sidewalks, landscaping, and any recreational facilities. OGI’s assessments meet or exceed the ASTM (ASTM E2018 – 15 Standard Guide for Property Condition Assessments: Baseline Property Condition Assessment Process) OGI routinely conducts Property Condition Assessments and Physical Needs Assessments to identify and provide cost estimates for the following key items:
- Immediate Physical Needs – Fire and life safety issues, ADA Level I compliance, code compliance, repairs, replacements and significant deferred maintenance items which should be done immediately.
- Physical Needs Over the Term – Repairs, replacements and significant maintenance items which will be needed over the term of the mortgage and two years beyond for building components that have or will reach the end of their useful life during the lender established loan term.
Our Real Estate Due Diligence Capabilities Include
- Construction document and budget estimate reviews; pre-constructions
- Walk-through visual surveys with Client
- Written reports with cost tables, photographs and supporting documentation
- Third party desk-top reviews
- Construction monitoring
- Monthly inspections for work in progress and/or condition