Predictive Analysis: A Deeper Look
During the past year we’ve emphasized the importance of reducing costs through regular maintenance of key components of the buildings you call home.
A recurring topic has been the services we offer through our Predictive Analysis (PA) report. Today we’ll give a more detailed summary of the PA, and in coming weeks drill down further to give you a good perspective of why this tool is a valuable source of information in your Strata world.
Through our PA Reports we identify, describe and quantify Strata buildings’ major systems and their components.
We provide a projection of the remaining life span of these systems, together with ongoing life cycle analysis to project future repair or replacement time frames over a 30-year period.
We combine cost estimates for current dollar renewal of these systems and components with inflation projections to estimate Strata’s year-by-year reserve fund requirements over the same 30-year period.
We offer three different funding scenarios, assisting Stratas in preparing for long term renewals. These projections are based on building history and the result of SFTS inspections, thermal scans, resident input, services contractor surveys and document reviews. We recommend a minimum amount to be retained in the Contingency Reserve Fund.
We review these scenarios with Council to determine if any of them are suitable for the Strata’s unique situation. If Strata directs, adjustments may be made as needed.
A Predictive Analysis Report exceeds legislative requirements in many ways, including:
• extrapolated provision of budget details for Strata operations.
• Cloud stored reports, and related files providing 24/7 access to authorized Strata members.
• Real time ability to adjust to changing circumstances and market or building events without additional cost.
Call us to learn how a Predictive Analysis can reduce the worry in your life as a Strata stakeholder