Surveying the condition of a property portfolio requires years of experience and versatile competence
In connection with the sales and leasing of large properties and entities consisting of several properties, i.e. property portfolios, it is common for the buyer to wish to determine the technical value of the properties before the transaction to identify any current and future repair needs or the future maintenance backlog.
Determining the future repair liabilities is important for the parties of the transaction to assess relevance of the requested price. The survey can also include a study of any harmful substances, such as asbestos, in the buildings and in the soil, taking into account legislation.
The process is usually so complex, long and challenging that it requires versatile engineering experience and a team consisting of several people. The members of the team must be able to work in an international environment, because one or several of the parties of a transaction often come from outside Finland.
TDDs can be customised
Technical Due Diligence and Environmental Due Diligence (TDD and EDD) are well-known services that are used when surveying the technical and environmental risks of large properties. A TDD offers the buyer clear-cut information on the condition of the site, because it includes not only a report on the structures fo the property but also information on the property’s repair history, an assessment of the technical building services (the HVAC, electricity and automation systems) and a document review. Our service also includes a review of the local land use planning status and any limitations or opportunities connected to the use and development of the property. The survey scope is always separately agreed.
The parties are also often interested in statutory inspections, such as lift/fire safety inspections, fire compartmentalisation and the property’s safety in general.
The client will receive a report of the TDD survey that is based on the performed surveys and an inspection of the property. The report clearly indicates the property’s current status, the technical building, HVAC and electrical engineering systems, repair needs and related costs, and proposals on any additional surveys needed.
Years of experience is the key
When you are dealing with large amounts of money and a comprehensive property, the more experienced the experts are, the better. Raksystems has been performing condition surveys of large properties from the early 2000s and inspections of private properties for almost 30 years. We have assessed the condition of tens of thousands of large properties and performed a couple of thousand TDD surveys. In the past six months, we have performed TDD and EDD surveys for twenty international customers at up to 100 properties.
Due to our versatile competencies, we can offer our expertise to you in all kinds of issues ranging from indoor air problems to studying the condition of structures. If necessary, we can also handle repair planning or the planning of new properties, act as a developer and supervise construction projects. We can handle assignments quickly, as we have more than 300 employees.
