August 21, 2023

Stock condition surveys – what you need to know

Stock condition surveys - what you need to know

Before an organisation wishing to provide cost-effective planning carries out specialist surveys to identify shortfalls in fire safety, glazing safety, structural safety (such as RAAC) or access audits, it may be worth considering carrying out a stock condition survey.

What is a stock condition survey?

A stock condition survey is a comprehensive assessment of the condition of assets owned by an organisation or business. It provides valuable information about the current state of assets, allowing the owners to make informed decisions about maintenance, repairs, and replacements. Building asset stock condition surveys specifically focus on the condition of buildings and their components. Here are some of the benefits of building asset stock condition surveys:

Cost-effective maintenance planning

By conducting a building asset stock condition survey, organisations can identify the maintenance needs of their buildings and cost-effectively plan for them. The survey provides detailed information about the condition of various building components, such as roofs, walls, windows, and electrical systems. This allows organisations to prioritise maintenance activities based on the urgency and severity of the issues identified, ensuring that limited resources are allocated efficiently.

Improved asset management

Building asset stock condition surveys help organisations improve their asset management practices. The survey provides a comprehensive inventory of all building assets, including their condition, age, and expected lifespan. This information allows organisations to develop long-term asset management plans, including strategies for maintenance, repairs, and replacements. By proactively managing their assets, organisations can extend their lifespan, reduce the risk of failures, and optimise their use.

Enhanced health and safety

Building asset stock condition surveys play a crucial role in ensuring the health and safety of occupants. The survey identifies any potential hazards or risks associated with the building’s condition, such as structural weaknesses, electrical faults, or fire hazards. By addressing these issues promptly, organisations can create a safe and healthy environment for occupants, reducing the risk of accidents, injuries, or even fatalities.

Compliance with regulations and standards

Building asset stock condition surveys help organisations ensure compliance with relevant regulations and standards. The survey assesses the condition of building components concerning applicable regulations and standards, such as building codes, fire safety regulations, and accessibility requirements. By identifying any non-compliance issues, organisations can take corrective actions to meet the required standards and avoid potential legal or financial consequences.

Accurate financial planning

Building asset stock condition surveys provide organisations with accurate and up-to-date information about the value and condition of their assets. This information is essential for financial planning and budgeting purposes. The survey helps organisations estimate the costs associated with maintenance, repairs, and replacements, allowing them to allocate appropriate funds in their budgets. It also helps organisations assess the financial implications of different asset management strategies, such as refurbishment versus replacement – enabling them to make informed decisions based on cost-effectiveness.

Improved decision-making

Building asset stock condition surveys provide organisations with valuable data and insights that support informed decision-making. The survey helps organisations understand the current state of their assets, identify potential risks and opportunities, and evaluate different options for asset management. This allows organisations to make evidence-based decisions that align with their strategic objectives and optimize the use of their resources.

In conclusion, building asset stock condition surveys offer numerous benefits to organisations. They enable cost-effective maintenance planning, improve asset management practices, enhance health and safety, ensure compliance with regulations and standards, support accurate financial planning, and facilitate informed decision-making. By investing in building asset stock condition surveys, organisations can optimise the performance, lifespan, and value of their buildings, ultimately leading to improved operational efficiency and cost savings.

Concertus offer the following types of condition survey:

Preliminary condition survey – A photographic report that identifies the condition of all 12 major building elements on an asset-by-asset basis.

Detailed condition survey – Detailed identification of the condition of all elements on a room-by-room basis including estimated costs to remediate.

Detailed condition and compliance survey – Detailed identification of conditions on a room-by-room basis including a schedule of rates and a detailed review of compliance information, identifying shortfalls and comprehensive action plan of remediation.

Stand alone compliance survey – Detailed review of compliance information, identifying shortfalls and comprehensive action plan of remediation.