Winter in Pennsylvania and with it comes many four-letter words such as “snow,” “high fuel bill,” and “dams.” By “dams,” I mean ice dams. Some winters are worse than others, causing boards and property managers to look for ways to reduce this serious problem in the coming months. Infrared scanning (thermography) can be one of the….
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Which Type of CRE Building Inspection Do You Need?
Commercial Building Inspection (CBI) or Property Condition Assessment (PCA) Large corporations, real estate investment trusts, and individual investors purchase commercial real estate (CRE). As part of the pre-purchase due diligence process—often required by lenders—Criterium Engineers offers two key types of commercial building pre-purchase inspections to guide our clients through that process. Not only are these….
Association Liabilities — Ignorance is not Bliss
So what keeps you up at night? If you are a condo board member or a property manager, it might be that dreaded phone call reporting calamity at the condominium. Whether it is the report of a fire; or a frozen sprinkler leak; or an injury due to a common element failure, the association’s actions in….
Accelerate Depreciation for Your Commercial Real Estate
What property types benefit most from accelerated depreciation with a Cost Segregation Study? Many of the costs embedded in a new or existing building can be segregated into categories that also allow for more rapid — or accelerated — depreciation. Many items inside the building – furnishings, fixtures, flooring and the like – can be depreciated….
Common Asset Maintenance: Best Practices
HOA Maintenance Plans As a young engineer, the most valuable lesson I learned early on was not to try to remember everything but know where to find the answers. It is no different for a new condo board or property manager. The Community Association Institute (CAI) has gone to great lengths to provide community leaders….
Transitions in Condominiums: Two Primary Elements
All things are in transition. Nature, the New England Patriots, and condo communities go through transitions. In the world of condos many of these transition milestones are well understood, many are not. Most know condos go through a transition management period from the developer to unit owner, but there is much more. Condo transition has….
Out of Pocket: How to Sell the Results of a Reserve Study Without a Revolt
You are a board president and you just found out that your association needs $200,000 to replace the clubhouse HVAC system. Your operating budget has no contingency funds and your reserve fund (which only gets occasional contributions) only has a balance of $50,000. What do you do now? No one wants to be in such….
Tips for Dealing with Winter
Winter is here across much of North America. This season plagues even the sturdiest among us—as with winter comes the inevitable storms of the season. Here are a few winter tips to help you prepare for and deal with the season: Insulate the attic to keep roof surface cold and help avoid ice dams. Maintain….
Leaks Happen
Finding the Leak Like the bumper sticker says, Leaks Happen. Eventually all roofs will leak. The various available condo roof surfaces typically have different reserve fund plan expected useful lives. High slope roofs such as fiberglass composite shingles are budgeted to be replaced in 25 to 30 years while low slope roofs surfaces such as….
Want to Avoid Unexpected Property Maintenance Costs? Hint: Plan for Your Commercial Property’s Future
Whether you are a building owner, property manager, REIT manager—or if you are questioning whether a building purchase makes financial sense—it’s important to anticipate how the property will perform over time.For retail, multi-family, office or industrial properties, the best solution is to assess, plan and budget for the future. A Capital Needs Assessment analyzes the….