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3. The Real Estate Institute of Canada (REIC)’s Certified Reserve Planner (CRP) Competencies

Competency Requirements – Constructive CRC’s Functions in Green

Technical and Construction Experience – minimum five (5) functions required
1 Conduct property inspections, observe building components, systems and site improvements, make a judgement on condition and identify functional obsolescence
2 Recommend or approve preventative maintenance work and estimate time line and cost of capital improvements for replacement
3 Design, implement, monitor, recommend or approve, routine and preventive maintenance programs for buildings
4 Design, implement, monitor recommend or approve a capital asset plan for buildings
5 Oversee operation of buildings, systems, supervise employees or monitor contractors who perform maintenance and repair work and /or oversee planning and construction of building / tenant improvements
6 Recommend, review or approve items or services to be purchased for a property, prepare specifications, solicit and evaluate bids for contract services, negotiate and approve contracts and monitor contracts
7 Examine building plans for details of construction and for quantity take-offs to determine areas and size of building components, systems and site improvements
8 Develop job costing for tender pricing, estimate current costs
9 Ensure the property’s compliance with government and environmental regulations
10 Review condo | strata governing documents such as bylaws, air-space parcel agreements and/or other agreements that relate to reserve fund responsibilities of condo | strata corporaitons
11 Evaluate the impact of special levies on condo | strata corporation property value
12 Provide replacement costs or insurance appraisals for properties
Accounting and Finance Experience – minimum three (3) functions required
13 Develop, implement, monitor, review or approve company business plans including goals and objectives and long-term financial plans
14 Prepare, present and implement annual corporate budgets, capital expenditure budgets, reviews and authorise and monitor such budgets prepared by others
15 Approve major deviations from budgets exclusive of emergencies
16 Prepare, analyse and/or approve a corporation’s annual financial and monthly operating statements and/or variance reports
17 Identity and analyse a corporation’s financal requirements and financing options, determine required cashflows and recommend a sustainable funding plan
18 Project future costs for replacements, observe and analyse price trends and their impact on inflation and return on investment
19 Recommend, develop or oversee investment financial portfolios such as RRSPs, GICs and /or investment strategies focused on short to long term goals
20 Analyse market conditions and recommend or approve a property’s market-value
Report Writing – minimum one (1) function required
21 Prepare detailed reports including an executive summary, details of reports, conclusions and recommendations
22 Prepare reports based on property inspection findings, condition assessments, maintenance contracts and schedules, capital improvement plans including timelines and costing in a format that presents recommendations
23 Prepare reports determining the market value of property including property details, comparables, value adjustments in a format approved by the Appraisal Institute of Canada
24 Prepare reports that identify and analyse alternate uses of property and detail how to implement a plan to change a property’s use as for example, converting from residential to commercial use
25 Prepare reports that identify, analyse and propose property improvements related to the future value and to the return on investment
Other – minimum zero (0) function required
26 Acquire new clients and/or establish and maintain client relationship(s)
27 Client relations with non-profit board(s) and/or volunteers
28 Manage condo | strata properties
29 Client relations with property managers, auditors, consultants, engineers etc.
30 Explain theory and concepts and apply to recommendations

About Author: Jean-François

With experience gained in construction, project management, field reviews, inspections, report writing and as strata president, J.-F. has cross-industry expertise guaranteeing that you will participate in a process geared to improving the corporation's finances and to setting the condo | strata board | council's planning to stand the test-of-time.

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