I will be speaking at Buildex Vancouver on Depreciation Reports (Reserve Study) case studies - Feb. 13, 2013. Seminar is being hostged by PAMA. Come join us - lots of good information to share with condo owners.
It is important for all condo owners to realize that a Depreciation Report (Reserve Study) is not a witchhunt. The report should reflect the positive work that some condo owner groups have been doing in terms of maintenance on their properties. Buildings that have already been through major projects will see this recognized in the report.
There are many stakeholders in an effective Depreciation Report (Reserve Study) - including developers, owners, managers, real estate agents, buyers, etc.…The infographic provides an introduction to the varied perspectives of the stakeholder group.
It is shocking how some owners store their construction drawings before they commission their Depreciation Report (Reserve Study). See a photo comparison of the different levels of care that some condo groups have applied to the archiving of their plans.
It is sad how much money condo owners have wasted having to locate their lost and damaged construction plans. Most owners do not realize that a small investment of about $500 in scanning their drawings into electronic format will provide peace of mind for long-term preservation of these critical documents.
45 Professional Reserve Analysts (PRAs) were in attendance at the 2012 APRA annual symposium in Las Vegas. The PRA designation requires all reserve planners to fulfill continuing professional education requirements in order to continue to use the professional designation on their reports when conducting a Reserve Study (Depreciation Report) in the US.
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