What is a Property Condition Assessment?
During a Property Condition Assessment, a forensic
expert will perform an inspection of the property
and provide an attorney/client privileged report of
the findings. An experienced attorney and a forensic
expert will meet with the Board to discuss the
findings and recommendations.
Why have a Property Condition Assessment?
Often shortcuts, design flaws, cost cutting, defective
products and sloppy construction can cause defects
in buildings and common areas that shorten their
useful life.
A PCA helps protect the Association and Board. This
is especially important, as some Directors and Officers
Insurance often exclude coverage for claims against
the Board for failure to investigate and pursue a
construction defect claim.
When Should You have a Property Condition Assessment?
It is best to do an assessment annually. It is crucial to
complete a PCA prior to the expiration of the Statute
of Limitations to pursue claims. Many Declaration of
Covenants also require AOAOs to conduct an annual
detailed inspection of the common area.
How Our Plan Will Help You If Defects Exist.
If defects are found during the Property Condition
Assessment, we will advise the Board on the
nature of potential claims and the critical statute of
limitations, which set forth the time periods within
which an action must be asserted. Our guiding
principle is to obtain a fair and favorable resolution
to construction defect claims, while maximizing
net return to the client. We handle cases on a
contingency basis and advance all costs.
