Gill Group offers multiple services for due diligence: STOP ONE Real Estate Services Market Studies...
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Transcript of Gill Group offers multiple services for due diligence: STOP ONE Real Estate Services Market Studies...
Gill Group offers multiple services for due diligence:
STOP
ONE
Real Estate Services
Market Studies ~ Mark-to-Market ~ Real Estate & M.A.P. Appraisals ~Nursing Home Appraisals ~ Physical Condition Assessments ~ ProjectCapital Needs Assessments ~ Phase I Environmental Assessments ~ Section 42 Tax Credit Inspections and Compliance Audits ~ REAC
Contact:Cash Gill
1 (800) 428-3320www.gillgroup.com
Phone: (800) 428-3320
Fax: (877) 624-2942
P.O. Box 784
512 N. One Mile Road
Dexter, MO 63841
Inspections – REAC/PCNA
• Both inspections have extremely similar elements.
• REAC is completed to determine deficiencies and health/safety issues.
• PCNA is completed to determine the same things but also the cost to correct.
• There are many inspection guides available for conducting PCNA inspections.
• The Uniform Physical Condition Standards checklist is used for REAC inspections.– This checklist is an all-inclusive checklist, which
makes it an excellent guide to follow for the PCNA inspection as well.
Potholes/Loose Material (Parking Lots/Driveways/Roads) – Hazards/Tripping
Damaged/Broken Equipment (Play Areas and Equipment) – Hazards/Other
Erosion/Rutting Areas (Grounds) Graffiti (Market Appeal)
Exposed rebar – Spalling/Exposed Rebar (Foundations) No recent rain – Damaged/Clogged Drains (Roofs)
Missing/Damaged Components from Downspout/Gutter– paint damage Missing/Damaged Components from Downspout/Gutter– no damage
Leaking Central Water Supply (Domestic Water) Missing Covers (Electrical System)
Leaking Central Water Supply (Domestic Water) Not Operable (Elevators)
Water Stains/Water Damage/Mold/Mildew (Ceiling) - Water Stains/Water Damage/Mold/Mildew (Walls) - Air Quality/Mold and or Mildew Observed
Components failed – chutes damaged/missing components
Damaged Frames/Threshold/Lintels/Trim (Doors) - Graffiti
Hallway ceiling – Holes/Missing Tiles/Panels/Cracks
Lavatory Sink - Damaged/Missing (Bathroom) - Bathroom Cabinets - Damaged/Missing (Bathroom)
Water Closet/Toilet - Damaged/Clogged/Missing (Bathroom)
Holes/Missing Tiles/Panels (Ceiling) – unit above exposed Holes/Missing Tiles/Panels (Ceiling) – unit above not exposed
Common Area - Electrical hazards- Exposed wires Building Exterior - Emergency/Fire Exits- Blocked/Unusable
Unit - Infestation - Insects Common Area - Garbage and Debris - Indoors
Uniform Physical Condition Standards (UPCS) - Most Frequently Cited Deficiencies *
RankUPCS Area
Name UPCS Item Name UPCS Deficiency NameNumber of Times Cited **
1 DU Doors Damaged Hardware/Locks** 109,5172 DU Kitchen Refrigerator - Missing/Damaged/Inoperable 76,0863 DU Bathroom Lavatory Sink - Damaged/Missing** 46,2674 DU Kitchen Range/Stove - Missing/Damaged/Inoperable** 41,9165 DU Doors Damaged Surface - Holes/Paint/Rusting/Glass** 41,4696 DU Walls Damaged** 37,7007 BldgExt Walls Stained/Peeling/Needs Paint 35,9568 DU Walls Peeling/Needs Paint** 35,6289 BldgExt Walls Missing Pieces/Holes/Spalling** 33,74910 BldgExt Roofs Missing/Damaged Components from Downspout/Gutter** 32,28411 DU Windows Missing/Deteriorated Caulking/Seals/Glazing Compound** 31,46912 DU Smoke Detector Missing/Inoperable** 30,91113 DU Windows Inoperable/Not Lockable** 30,88314 DU Outlets/Switches Missing/Broken Cover Plates 30,64215 HS Hazards Tripping 29,40516 DU Bathroom Plumbing - Leaking Faucet/Pipes 24,96217 DU Electrical System GFI - Inoperable 24,47318 DU Call-for-Aid Inoperable 23,93619 DU Ceiling Peeling/Needs Paint** 22,14920 HS Emergency/Fire Exits Emergency/Fire Exits Blocked/Unusable 21,20821 DU Bathroom Shower/Tub - Damaged/Missing** 20,56322 DU Doors Damaged/Missing Screen/Storm/Security Door** 20,18623 DU Doors Missing Door 19,51724 HS Infestation Insects 19,35525 BldgExt Windows Damaged/Missing Screens** 19,167
DU = Dwelling UnitBldgExt = Building Exterior
* FHEO defects were excluded for consistency with existing business rules.** Since the beginning of 2.3 to September 20, 2006
Top 20 Correctable Deficiencies• The following are examples of maintenance items that, if repaired prior to the
physical inspection, could make a significant difference in the overall inspection score. Be sure that…
– Water Heater – the pressure relief valve discharge tube extends to within 18 inches of the floor.
– Misaligned Chimney – the vent stack on gas operated water heaters or furnaces are properly aligned.
– Missing HVAC Covers – there are covers on all baseboard heaters.– Access to the Electrical Panel – access to the electrical panels is not blocked by
furniture or other items not easily removed.– Missing Covers – electrical panels that have interior covers (aside from the panel lid
box itself) are present to prevent exposure from the wire connections.– Open Breaker/Fuse Ports – open breaker/fuse ports are covered.– Door Damaged Seals – the factory installed seals on exterior doors, such as building or
unit doors, are in place and undamaged– Doors Damaged Hardware – exterior door hardware locks or latches properly and fire
doors function as designed.– Security Doors – security doors do not have dual-side key locks.– Kitchen – stove burners are working.
Cont’d– Plumbing – pipes and faucets are not leaking, and areas around any leaks
are cleaned up and repaired. – Damaged Sinks/Showers – any hardware problems are repaired, diverters
are working, drains have stoppers, hot and cold water handles are in place and working.
– Clothes Dryers – are properly vented to the outside from units or laundry rooms.
– Storm Water Sewers – are not clogged with trash or leaves.– Sanitary Sewer Damaged Covers – caps located in the grass on the exterior
of the building that have been damaged by a lawn mower are cleaned out and repaired.
– Trash Chutes – hardware is in place and the chute door closes properly.– Trash Receptacles – are not overflowing and are adequate in size for the
property.– Auxiliary Lighting – the back up lighting works even when the test light does
not work.– Leaking Domestic Water – there are no leaks in the domestic water supply,
including the hose bibs located on the exterior of the building.– Outlet and Switch Plate Covers – are not cracked or broken.
Misaligned Chimney/Ventilation (HVAC) Common Areas - Electrical Hazards - Exposed Wires/Open Panels
Exposed Electrical Connections – Missing Covers (Electrical System) Missing Drain/Cleanout/Manhole Covers (Sanitary System)
Critical Repairs - PCNA
Non-Critical Repairs - PCNA