The Key Differences Between PCA and FCA Reports
The critical differences between Property Condition Assessment (PCA) reports and Facility Condition Assessment (FCA) reports are:
Purpose – PCAs are usually completed before purchasing a commercial real estate project as part of the due diligence process. FCAs are performed after a property changes hands or when an owner wants to reevaluate their space.
Timing – PCAs are performed before a property transaction, while FCAs may be conducted at any time during a property’s ownership.
Scope – PCAs examine the current condition of a property and highlight any potential issues that may affect the property’s value. FCAs provide a comprehensive evaluation of a property’s physical condition, value, and maintenance needs, with a focus on long-term asset management.
Focus – PCAs focus on identifying and highlighting any issues that may affect the value of a property. FCAs typically concentrate on providing a comprehensive understanding of the property’s physical condition and maintenance needs and on developing capital budgets and prioritizing resources.
Duration of Reports – PCAs are typically a one-time document. FCAs are often updated with new data over time and are intended to be living documents.
Deliverables – PCAs provide a report shared between buyer and seller, while FCAs give an account that facilities managers use for long-term asset management.