Whether you currently have a robust real estate portfolio or you are considering investing in one, you should realize that real estate is a living, breathing asset. Once you’ve signed on the dotted line, the asset is yours to manage and maintain, whether you are planning on simply turning around to re-sell or holding on to the asset for use as an investment.
As a savvy investor, you did your due diligence (a Property Condition Assessment (PCA), Phase I & II, etc.) with the help of an expert team who determined that the building or multi-facility portfolio was a solid investment. Years have passed, you have reviewed the reports, and this has proven to be true. The asset you invested in has already provided you a return on investment.
So why, you wonder, should you spend the time and money for something called a Facility Condition Assessment (FCA)? Whether your initial inspection went very well or revealed deficiencies in the building, one thing is certain: after the stress of the transaction is over, keeping up with regular “check-ups” after closing can seem both daunting and redundant. But just as you visit the doctor for an annual physical exam/wellness visit, you should be conducting FCAs over the life of the property in order to keep your living asset “healthy”.
And there’s great news: A Facility Condition Assessment (FCA), when conducted by trusted professionals, can not only relieve stress and burden from the property owner but will end up saving you both time and money.
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