Apartment complexes,
condominiums, townhouses, time shares, senior housing all have
one thing in common...they are usually managed by a Board of
Directors or Property Management Company that require
information to make sound decisions within their respective
communities. This information includes the condition of
materials that over time even with the best maintenance
program will require replacement. When these item such as roofs,
heating/cooling units, windows, sidewalks, pavements,
etc...require replacement, the right amount of capital dollars needs to
be available to fix, repair and/or replace them without the
need of special assessments which owners find very unfavorable.
A cost reserve study or
capital needs assessment will provide such information
outlining the estimated useful life of items and place the
items within future time table to allow for proper budgeting
of the cost to replace them. Additionally, WREA is then
capable of coupling this service with the construction
management to complete specifications, place to bid and
monitor the work as it is being completed within our
construction management group.