Property Management
What is a 'property condition assessment' in Delaware commercial property management?
AA review of the tenant's financial condition before lease signing
BA systematic inspection of a commercial property's physical systems and components to identify deferred maintenance, capital expenditure needs, and immediate repair requirements✓ Correct
CAn appraisal report required for commercial mortgage financing
DA government inspection required before issuing a certificate of occupancy
Explanation
A Property Condition Assessment (PCA) is a systematic inspection of a commercial property's structural systems, mechanical/electrical/plumbing systems, roof, and site improvements. It identifies deferred maintenance, estimated repair costs, and capital expenditure needs — essential for commercial acquisition due diligence.
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