Why Newbanks’ Approach to Property Condition Assessments is Unmatched
January 21, 2020
If you visit our website or speak to any of our staff, you’re aware that Newbanks has been around since 1961. It’s one of our most important industry differentiators. We’re also a national organization, which means we can easily manage portfolios and provide consistent reporting no matter where the properties are located.
Not only do we have an impressive track record, but also within this history is another “tout-able” fact: We’ve been doing Property Condition Assessments (PCAs) since our founding.
In the last 60 years, we’ve seen all trends, changes, standards, and almost every construction type imaginable.
Newbanks PCA reports comply with industry standards based on ASTM E-2018-15 requirements along with Freddie Mac, Fannie Mae, or HUD guidelines.
How does a company such as Newbanks become known for their PCA reports?
What sets Newbanks apart? In an industry where standards are in place for a reason, it’s essential to know what Newbanks can offer and how we’re different than anyone else when it comes to these types of assessments.
Our experience is unmatched.
We take pride in the fact that we bring a wealth of experience to ensure our clients receive the most accurate assessments possible.
Because of that experience, we can better interpret what we visually observe during our site walkdown.
We’re more familiar with the entire construction experience – quite literally from the ground up – because of the diversity of knowledge that our seasoned professionals bring to the table.
And within the Newbanks history is a variety of construction and engineering backgrounds from every corner of the U.S.
Our tenure is unrivaled.
Our staff is made up of individual professionals with many years of various construction and financial industry experience. And when it comes to the tenure of our team, we’re without equal.
Our people come from architecture, real estate, engineering, and other backgrounds. The level of professional attainment within our teams is unrivaled.
At a time when there seems to be an ever-changing cast of characters within the construction industry, the relationship Newbanks has with its staff is unparalleled. We stake much of our success on that fact. Many of our people have worked here for decades and are fully committed to the success of our clients and our organization.
We send seasoned professionals to conduct each PCA. And that same person will generate the final report. This professionalism ensures that nothing falls through the cracks, is overlooked, or missed while creating your final report.
Timeliness is our calling card.
Another element that equips Newbanks to handle PCAs for your business is that we’re often called upon to assess unique properties: from the urgent to the large-scale. We can assemble a team (quickly) to meet your deadlines and requests.
Do you have a specific construction or rehabilitation type in mind for your PCA?
Chances are, we are familiar with that exact type.
From medical offices to garden apartments to manufacturing and institutional facilities, we’ve handled PCAs for it for over half a century.
Our turnaround time is superior, no matter how unique or extensive your request might be.
Historical data at our fingertips
When it comes to assessing properties, we have a wealth of proprietary information at our fingertips.
We determine the age of materials using our command of industry standards, and we know when something needs replacement. That’s important because building systems and equipment can substantially impact the total costs of building or rehabilitation.
Determining the actual age of equipment, appliances, or other items does require some subjectivity and objectivity on the part of the assessor. Our experience is a crucial factor here.
Because we’ve been in business since 1961, we’re like no other firm in this regard.
Our experienced staff performs cost analysis, and we’ll determine overall costs based on historic replacement costs.
Why let Newbanks handle your next PCA?
Our tenured professionals.
These are all elements that make up a vital aspect of our organization: trust. You need to trust the information in that report is as accurate as possible. Your success depends on our success. That’s a relationship we take seriously.
Take some time to learn more about Property Condition Assessments performed by Newbanks staff.