Let Us Guide Your Reserve Fund Planning
Our construction, project management, reserve fund planning and financial experience is your guarantee that our effective reports will translate into clear and robust results for your development:
What is Constructive CRC’s Reserve Fund Planning Process?
Constructive CRC’s process is cookie-cutter adverse. The aim of the reserve fund planning process is to eliminate special levies, and to normalise contributions. We take to heart provincial legislated mandates and accredited methodologies.
We provide a recognised fiscal-year based tool to help the condo | strata board | council prepare the strata corporation for owner-neutral common asset components and systems’ major repairs and replacement decisions, throughout the economic life of the development.
Our process creates or updates the development’s component inventory, rests on the physical analysis of the selected components based on a visual assessment of their condition, establishes a point-in-time financial benchmark for the chosen component inventory, schedules and sequences projected expenditures, determines the reserve fund’s current position, and proposes at least three (3) scenarios – the benchmarked-ceiling, the existing-floor, and the incremental goal.
What is Constructive CRC’s Report Update Process?
Most provinces require that reserve fund studies | depreciation reports be updated. Updates are meant to ensure that all board | strata council members are equipped to make the best decisions about the reserve fund in any fiscal-year.
Our best-practice report updates meet mandated requirements, and provide condo | strata boards | councils with effective and usable budgeting and planning numbers.
Some writers are asking for the same fee as for the original comprehensive report and some for more.
Constructive CRC’s position is that IF the component inventory was properly completed and IF unit quantities for all the components were provided, then the fee should be lower.
To meet corporations’ needs, an update report will require a site-visit, the latest financial information, a review of maintenance and remediation work undertaken, and in BC, the creation of a updated benchmark with three new scenarios.
What is Constructive CRC’s Capital Asset Plan Process?
Current capital asset plans do not factor in the performance or depreciation of assets. They simply project current costs. We understand that organisations are demanding more relevant, transparent and accountable forward-looking financial plans.
We help landlords and owner-groups plan or budget for large-scale long-term asset replacement with audit-proof tools, and sound best-practices.
Viable capital asset plans must combine the generalised and specialised functions required to meet all types of shared-financing schemes. Our budgeting for the replacement of capital assets prepares against uncertain projections and high degrees of risk.
The major difference between a depreciation report and a capital asset plan is that typically only two scenarios are provided, that the recommended scenario begins with an account set at $0 and that the required monies for future expenditures have their accrued interest adjusted to the payees’ schemes. The strength of a good capital asset plan rests on its realistic costing, relevant inflation factors, and usable yearly allotments to payees.
Quality Updates, Reviews and Specifications for Your Investment
Our general and specialized knowledge, coupled with our years of construction and condo | strata expertise, is your guarantee that our value-added services will translate into your best-practise experience:
What is Constructive CRC’s Yearly Update Rationale?
Yearly updates are for updating all types of reports with what has transpired physically to assets and financially to budgets, accounts and investments during the last fiscal-year. These are especially meaningful when large operating expenses and reserve fund expenditures are planned in the next three fiscal-year cycle.
These reports can be individualised to match the needs of your corporation.
What are Constructive CRC’s DR Report Review Results?
This is our accessible review report of an existing depreciation report | reserve fund study. Its aim is to gauge how it meets the REIC’s and Constructive CRC’s standards.
We extricate the pertinent information from an existing report, provide a succinct conceptual glossary of terms used, review the component inventory, review the financials assumptions and list errors, if any.
We input the existing report’s unit quantities and costs – if provided – into our model and review the numbers to determine if a benchmark was properly setup, if the scenarios meet the Strata Property Act (SPA)’s minimum standards, and if what the recommended scenario proposes in terms a cashflow and in graphical form is acceptable.
While a Constructive CRC DR review report does not include a new scenario, it allows you to gauge the professionalism of another depreciation report.
What are the Types of Constructive CRC’s Warranty Reviews?
There are three types:
First, a ‘Point-in-time Warranty Review’ will focus on the available documents – typically the Home Protection Office (HPO)’s 2|5|10 year warranty package that covers respectively the materials and labour | building envelope | structural aspects of a development.
Most warranties have termination dates and it is important to undertake the warranty reviews before it is too late to take advantage of the coverage.
A point-in-time warranty review process provides a visual inspection of the covered components and elements – before the 2, 5 and 10 year marks in the life of a development.
Second, a ‘Full Warranty Review’ covers all original and new documents and provides an updated complete summary of commencement and termination dates documents for all components.
Third, an ‘On-going Development Warranty Review’ manages HPO and all other warranty review needs from any moment in a development’s lifespan, into the future.
What are Constructive CRC’s Roof Inspection Review Results?
Boards | councils rely on roof inspections reports to determine annual maintenance and reserve fund expenditure scheduling and reserve requirements.
Our Roof Inspection Review includes a site-visit, a review of the existing report’s findings, our update of the opinion of probably costs provided by others and a discussion of the specifications and remediation process particulars for each development.
What is Constructive CRC’s BECA Review Rationale?
Constructive CRC is equiped to conduct most of your inspection needs and has the experience to understand and interpret specialised trade and engineer reports – we have a wealth of contacts to update our knowledge if need be.
Engineers produce Building Envelope Condition Assessment (BECA) reports that are distinct from Depreciation Reports and Warranty reviews.
BECAs follow specific engineering standards that involve interior and exterior destructive tests at selected locations of the claddings and transitions to openings that waterproof a building.
An engineer will rarely rely on a depreciation report for remediation work. Working with engineers means having to acquire all three documents at higher fees.
We are often asked to conduct site-visit reviews, to review and summarize the findings of these reports, and to update the costing | scheduling | planning found in BECAs.
What is Constructive CRC’s Specification About?
The best way to ensure that a remediation project meets all stakeholders needs is to work on the same page with a set of standard specifications for each particular project.
A typical specification package covers the scope of work, the work conditions, the limitations, the materials, the remedies, the warranties etc. that define every step of a project.
Specifications are used to tender to contractors so that a condo | strata board | council retains the control of the process.
Let’s Work Together!
Please feel free to have us contact you to review your needs by completing this form.
If you would like to request a sample report | update | proposal you can request one here.