Periodic physical property inspections are a critical component of oversight and maintenance of commercial and multifamily properties.
MBA has worked with industry leaders to help increase the level of communication, standardization of reporting and the quality of the review for property inspections.
In 2005, MBA adopted new inspector qualifications best practices, which require adequate training and experience for all those professionals inspecting properties financed by Fannie Mae and Freddie Mac.
MBA will continue to work with the members on property inspections in 2006.
MBA Action - Updates
MBA, under the COMBOG Multifamily Committee, created the Inspector Qualifications Working Group. The Working Group developed voluntary "best practices" for the industry on inspector qualifications for GSE loans. Those "best practices" were adopted by COMBOG in December 2005.
Education and Training CampusMBA will offer education and training to the commercial real estate industry on how to perform physical inspections of multifamily properties. MBA worked with Fannie Mae and Freddie Mac to develop a training program that is accepted by both agencies
Multifamily Property Inspection Workshop - July 11-13, St. Louis, MO
Multifamily Property Inspection Workshop - September 19-21, Dallas, TX
To find out more or register for one of the training course, please visit CampusMBA website
Industry Forms and Communication. MBA, through the COMBOG Asset Administration Committee, developed a standard inspection form for all property types. The MBA will establish a working group to review the inspection form for any additions or changes. For more information on the working group, please contact MBA staff, Katie Schwarting at firstname.lastname@example.org.
Inspections - Standard Form of Reporting
Standard Property Inspection Form
Instructions for Inserting Company Logo on Inspection Form
Property Inspection Form - Key
Inspector Qualifications - Multifamily
GSE Multifamily Inspector Qualifications Best Practices White Paper
Best practices for Multifamily GSE Inspector Qualifications (Grid)
Best Practices Quality Control Program for Third Party Inspections
Commercial/Multifamily Newslink and Industry Articles
MBA Commercial/Multifamily NewLink: COMBOG Adopts Best Practices on GSE Multifamily Inspections - November 11, 2005