Not to be confused with a financial valuation, this service assesses the technical condition of a building accompanied by a repot outlining and costing a series of maintenance or repair activities needed in order to bring the building at its initial condition and specifications. Its strict derivative actions are also different than a renovation plan, cost and scope wise, since it targets repairs or maintenance of existing elements only. However, such a report can certainly be used as a technical condition assessment base for financial valuation purposes since any defects found could negatively affect its value and create expenses or reveal several value reductive inefficiencies. It may also be the starting point of a renovation project setting the starting point and cost base. Finally, a condition assessment report, whether requested by the owner, a property manager or a prospective tenant, it is the most appropriate base for a lease agreement with regards to future dilapidations and avoidance of costly disputes upon expiry. Yet, it can run in parallel with a legal status conformity investigation and certification process which is nowadays a legal requirement for all property transactions in Greece.
On request, a Metrax team with a civil engineer inspects all key points of the property under evaluation and submits a detailed technical condition report to the interested party. Indicatively, the survey may report on all or any of the following points and custom surveys can be designed according to customer needs.
Survey Findings, Documentation & Proposals
Metrax survey reports contain our findings accompanied by photographic documentation, floor views if required and our proposals on needed action. Depending on the property age and the client specific objectives, the results of the survey call for action ranging from a simple maintenance routine and legal compliance actions, or a renovation plan including both repairs and upgrades.
Our report will provide accurate descriptions of the problems or weak spots identified and will set clear guidelines for maintenance or consulting advice on various other options (renovation, upgrades, fit-outs) that give rise to value and increase the property income rate of return. Additionally, in order to facilitate decision making, our report is presented both in technical form for engineering use as well as in a presentation format supported by financial data that upper management teams expect and comprehend with ease.
With regards to action taking we offer the options of either undertaking the project from start to completion, managing the project (PM) through a client selected contractor or strictly audit the project on behalf of the owner. (Read about our project management, construction & fit-out services for more information)
For portfolio wide assessments, all planning is directed to achieving scale economies that reduce costs and lead times. We ensure the highest possible degree of action coordination, efficient unified procurement and work crews scheduling utilizing latest technology tools that allow seamless collaboration between project teams and accurate reporting.
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Service Information Tables
Our Property Surveying service is offered at three standard levels but customization is also available where needed and agreed. Please browse through Table 2 referencing Table 1 for an overview of our services concerning building surveys.
Table 1
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Building Interior |
Building Exterior |
Infrastructure |
Systems Check
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Room by room inspection
Walls, ceilings
Windows, Doors
Floors
Rest Rooms
Kitchens/refectories
Recreational Spaces
Basements - Storage Rooms
Mould or Humidity
Hazardous Materials
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Roof (Insulation, joints, tiling)
Gates - Fences
Exterior surfaces (paint, metal, stone, bricks, wood coverings)
Windows - Doors Sealing
Gardens
Pathways
All landscaping grounds
Parking Space
Hazardous Materials
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Structural Integrity
Plumbing & Piping
Electrical
Pump Stations
Drainage systems |
Heating
HVAC
Security Systems
Fire Detection & Extinguishing Systems
Ventilation
Automation Systems
Building Management Systems
Elevators
Antennas
Other electronic and electromechanical systems specified or found |
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COLOR MAP |
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A |
B |
C |
D |
E |
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Table 2
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Service Interest Groups
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Survey Level* |
Findings Report |
Consulting |
Metrax Role |
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Property Owners
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Level 1
Inspection by civil engineer through observation without the use of sophisticated measurement equipment on the points appearing in Table 1 color coded: A
Observation and simple test usage at points appearing in Table 1 color coded: D
Recording only of systems in Table 1 color coded: E |
Analytic description & photographic Documentation of inspection findings.
Condition, existing infrastructure, equipment, systems and simple check working condition
Legal compliance status report
Civil Engineer certificate
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Proposal of appropriate action based on order of priority & legal urgency
Optional Budgeting of proposed actions based on current market data and per case application |
Accurate condition assessment
Action and solution planning.
Full assignment of the project (planning & implementation)
Project Management/Auditing
Property Valuation
Commercial Exploitation proposals
Investment Appraisal
Legal Conformity management
Renovation PM
Property Management
Fit-out services (Tenants or owner relocation)
Turnkey Solution Provider
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Prospective Buyers |
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Prospective Tenants
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Existing Tenants
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Reasons for Survey & Action
Scheduled Maintenance to ensure working order
Condition assessment for further decision making. i.e. Demolition or Renovation
Part of a valuation report
Cost mitigation of future dilapidations
Hazardous Materials investigation
Environmental risks
Health & Safety
Identification of commercial opportunities
Tenancy Dispute Management
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Level 2
Engineering inspection, measurement using sophisticated equipment and energy classification. Points of action appearing in Table 1 color coded: D E |
Close inspection, systems identification (i.e. models -features), documentation, efficiency testing,
Mechanical & Civil Engineer certificate |
Value increasing consulting & planning (e.g. Proceed to renovation & upgrades to increase marketability and rate of return) |
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Level 3
Deep technical survey involving lab tests and the use of sophisticated equipment in order to test materials. (i.e. structural integrity, hazardous materials, environmental factors). Items in Table 1 color coded: B
Optional Security Assessment (Independent Service) appearing in Table 1 color coded: C
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Material Stress Test results
Chemical Analyses
Civil, Mechanical & Chemical Engineer certificate
Health & Safety legal compliance
Security Risk Assessment Report form registered security consultant (optional & customized per case)
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Specifically targeted advice to areas B and/or C aiming to resolve, legal, technical and functionality issues or special commercial requests.
Project planning, budgeting of all actions including B and/or C |
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Service Levels can be upgraded at any stage if deemed necessary applying efficient cost readjustment. |
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* Higher Service Levels include all previous level features
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