Accent Building Sciences has created an innovative database tool to assist in combining multiple reports for multiple sites into one comprehensive report. This report can be used by the real property administrator to forecast and establish the amount of contribution required over a period of 5, 10 or 20 years.
Accent Building Sciences’ services include:
- Complete visual survey of all building elements: exterior walls, roofs, fenestration, structure, interior finishes, plumbing, HVAC systems, electrical and elevators
- Technical evaluation of all building components
- Life cycle costing
- Capital expenditure plans (5, 10 or 20 years).
- Analysis of contribution vs. future requirements. Cash flow analysis
- Comprehensive remedial measures/repairs program.
The purpose of Performance audit is to determine whether there are any deficiencies in the performance of the building elements after construction has been completed. Such audit must be conducted no earlier than six months and no later than ten months following the registration of the declaration and description as outline in the Condominium Act, 1998. It is the Condominium Management responsibility to retain an engineering company to carry out this work within this time period.
Reserve Fund Study
A reserve fund study assists the property administrator in developing a long-term capital budget plan for one site or multiple sites. Capital budget planning should be separated from the maintenance and operations planning.
A reserve fund study outlines expenditures for major repairs, restoration or replacement of equipment. This study will produce a database on the condition of a facility’s properties, identifying the physical adequacy of construction, material, and equipment and outlining the life cycle of all building components. This inventory is used as a guide for the property administrator and all stakeholders in making decisions and developoing strategic plans for capital assets.
It is a requirement of the Condominium Act that all condominium corporations establish a reserve fund that is separate from the daily maintenance and operation of the facility. The reserve fund study includes a detailed condition survey of all building elements, their life cycle, and replacement cost. This assists the real property administrator and condominium owners in establishing a proper contribution plan over the future life of the building. A proper contribution plan eliminates any surprises for future expenditures, and ensures that proper funds are always available for necessary capital projects.
Click here to contact our building consultants for more information or call our office at (905) 474-9569.