Developing an effective way to educate and engage condo and co-op owners on understanding the various ways they can protect and monitor the value of their property may seem like a dubious and rather overwhelming task. Criterium-Tauscher Cronacher Engineers provide exactly that for HOA’s and condo and co-op boards, a reserve study, which is a critical part of maintaining the long term value for co-op and condo owners.
While a standard reserve study is managed by the assigned condo or co-op board or HOA members an understanding of its function can help communal efforts that impact the major common area components. A reserve study amalgamates various elements into an easy and straightforward plan, ensuring the viability and health of the capital reserve fund for condos and co-ops. The two basic components are a physical analysis and a financial analysis. This plan is subdivided into 5 basic elements, each an integral part of maintaining the long term value of your investment, consisting of component inventory, condition assessment and valuation, fund status, and funding plan.
Component inventory is the projected repair and maintenance of your property. These costs include regular periodic renovations, painting, irregular repairs, foreseeable failures, natural failures, and outdated designs. Condition Assessment and valuation is the task of establishing the “useful life” span of your property. Criterium-Tauscher Cronacher Engineers provide on sight inspections which allow you to create and fortify potential weak points on your property.
The fund status is determined by projecting the current and future value against the current and future and maintenance requirements. Criterium-Tauscher Cronacher Engineers synthesizes this information into a detailed report molded specifically for each client. This status totals these various factors into the final component, which is an in-depth funding plan.
Criterium-Tauscher Cronacher Engineers work exclusively with full time, licensed Professional Engineers and Registered Architects who have experience examining and scrutinizing over 200,000 structures. This team provides funding strategies, guidance and modifications by professional engineers, allowing you to take comfort in protecting and nurturing one of the largest and most valuable investments you own. Keep your home or property operating efficiently long into the future with Criterium-Tauscher Cronacher Engineers.