According to the IFRS, buildings will no longer be evaluated as single entities. Instead, an owner must break a building down by its major components (parking garage, cladding, roofing, suppression systems, HVAC systems, elevators etc.) and then evaluate each component to assess its remaining service life and replacement value.
The process may prove a complex undertaking, especially for those with a large portfolio of buildings. Getting the assessments right will require the expertise of professionals experienced in component-level evaluations.
Halsall has provided thousands of property condition assessments for facilities of all types, sizes and ages and has evaluated their respective components. Clients can count on the depth and breadth of our expertise to help you comply with the new IFRS requirements.