Property Inspection - Scope
A Star Property Inspection is conducted in accordance with American Society for Testing and Materials (ASTM) Standard Guide for Property Inspections (Baseline Property Inspection Process E 2018-08) and the specific scope of work includes the following :
Star Property Inspection will schedule an interview to meet with the client or his representative (preferably someone who knows about the building's history and where its components are located) and gather all existing relevant information regarding the property and its assets.
The Physical Walk-Through
The Interview is followed by a physical walk-through of the property. The Star team will go through the entire property and will take pictures and notes of the characteristics about the building like elevations, surrounding properties, site characteristics, building systems etc.
Research and Evaluation
The Star team will further conduct research on the property. This includes checking to see if all the building systems comply with existing regulations and also evaluating the condition of each system with a view to recommending repair, renovation or future replacement of the same.
Finally we will write a Property Inspection Report or the PIR. This report will outline all of the components of the building and their condition. The most important parts of the PIR are the Immediate Repairs Table (immediate repairs are defined as significant building code violations, safety concerns and deterioration to the building caused by deferred maintenance) and the Replacement Reserve Table (estimates what will need to be replaced or serviced in the future and it will associate a cost with each of these components), which help the client understand how the condition of the building will impact the asset's financial performance.