An audit of the building condition and the development of efficient, reliable cost-beneficial methods and solutions for current as well as future repairs are mandatory procedures for keeping a building in adequate condition allowing the owners to plan their budget.

The Building Assessment:

The Building Condition Assessment scope includes the following items:

The Assessment Report:

Building Condition Survey for Building Owners:

The purpose of the Building Condition Survey for building owners is to evaluate the physical condition of the building in order to plan a long-term maintenance program that addresses the specific needs and condition of the building, and helps the building owner to maintain it in the proper condition while reducing maintenance costs. The Building Condition Survey lists the deficiencies currently existing in the building and its systems, assesses the life expectancy of the major components of the building, and includes recommendations for future repairs and replacements. Items that are included in a Building Condition Assessment are for example, the building's structural elements, its finish, its safety compliance with current codes, and an overall view of the building.

It is recommended to conduct a Building Condition Survey on a periodic basis, which usually varies from three to five years, depending on the use of the building, its structural concept, location, size, and age. In addition, it is recommended to conduct a Property Condition Assessment, if there are issues that require immediate attention, such as cracks or water penetration that might affect the long-term maintenance program of the building.

Building Condition Survey for Investors:

Conducting a Building Condition Survey before or during the purchasing process of an investment property is essential. Aside from a conditional requirement of lenders to perform such a survey in order to assure the building's proper condition and acceptable maintenance costs during the duration of the mortgage, it is also a negotiation tool for the investor to negotiate the purchase price of the building with the seller, and either reduce the purchase price of the building, or demand repairs before completion of the building purchase. The cost of conducting a Building Condition Survey is minor when compared to the building's purchase cost, and with regard to all the other expenses that are involved in the purchasing process.