Depreciation Reports and Predictive Analysis
New BC Strata regulations require that depreciation reports be done every five years. (Click here for our summary of the new regulations.) Unfortunately, many depreciation reports are simply a statement of the condition of the building assets of a strata. They don’t help much with a strata council facing difficult choices, or wanting to create a long term financial plan.
This is why with decades of experience in this field we have gone beyond depreciation reports to offer predictive analysis, a suite of tools that help council members identify the best priorities for limited resources and time. Councils can explore financial scenarios to test the outcomes of potential decisions.
Inspections
As part of our predictive analysis we conduct very detailed inspections of the condition of the building assets of your strata. These inspections include infrared thermal analysis to expose hidden active or developing issues at the time of inspection that may be hidden at the moment.
Our technology and methods are also very useful for warranty inspections, or to verify that work has been completed to specs. A new building has warranty milestones that must not be missed to protect the building assets of a strata.
When it comes to new building warranties, there are 5 critical time frames:
- 12 months for any defect in labour or materials for non-common property in strata units
- 15 months for any defect in labour or materials for common property of strata buildings:
- 24 months for defects in materials and labour related to the delivery and distribution systems (electrical, plumbing, heating ventilation, air conditioning, etc.)
- 5 years for the building envelope, including water penetration
- 10 years for structural faults
Warranties are usually underwritten by Insurance companies. Be careful to administer warranty matters for your Strata complex in accordance with actual warranty document language you have received. Refer to an attorney familiar with such contracts should a matter of interpretation or dispute arise.
Request Handling & Tracking
We have observed many council meetings when an issue was brought up and the information about it couldn’t be found, or the status of the issue isn’t known. We also saw Strata Annual General Meetings devolve into arguments for the same reasons.
Imagine a system where all requests by owners are documented and tracked. Comments, actions taken, images and documents are added and time stamped. Owners can see the status of their requests without having to reach a council member or strata manager.
The SFTS strata requests system simplifies the work of councils and strata managers. It reduces misunderstandings, confusion and conflicts. It brings clarity to issues and accelerates the resolution of problems. All to create more harmonious relationships within the strata community.
Document Management
Managers and owners can access documents that are relevant to them promptly. This reduces the number of enquiries and saves the time of council members and strata managers.
The goal is to create the clarity and ease of access that helps the community focus on what’s really important rather than look for documents or information that is stored in multiple places.
