📈 What Is a Property Condition Report?

A Property Condition Report (PCR) documents the physical state of a property at the start and end of a lease. It serves as evidence in case of disputes about damages or repairs.

📅 When and Why It’s Used in Real Estate

PCRs are commonly used by landlords during move-in/move-out processes. They help:

• Document property condition with photos and notes
• Prevent security deposit disputes
• Support maintenance tracking

📊 How It’s Calculated or Applied

Not formula-based but typically includes:

• Room-by-room inspection checklists
• Photographic evidence
• Tenant/landlord signatures

PCRs may be stored digitally or as hard copies.

✅ Pros

• Prevents legal disputes
• Tracks wear and tear vs. damage
• Supports insurance and repairs

⚠️ Cons

• Requires detailed documentation
• Can be time-consuming to complete