bamtec engineering ltd. provides building asset management services including:
- Depreciation Reports for Commercial and Residential Strata,
- Building Inventory Listing in CSC/CSI UniFormat II Classification,
If you are responsible to manage a building asset, we provide the information you need to make today’s decisions about short and long term building maintenance and capital expenditures, to help you maintain your building in good serviceable condition at minimum cost.
We will work with you to understand your priorities, and give you viable options to meet your long and short term common property maintenance goals.
Our depreciation report provides anticipated Contingency Reserve Fund expenses and annual contribution scenarios for a 30 year forecast period, tailored to the needs of the Strata.
Our depreciation report will tell you:
- What common property and associated equipment you own and are responsible to maintain,
- The general condition of the common property and associated equipment,
- When the components that make up the common property will likely need to be replaced,
- What the anticipated cost to replace the common property based on today’s prices will be,
- How much you need to contribute to the reserve fund on an ongoing basis to fund the anticipated future replacements.
The benefits to the Strata for having the depreciation report in place include:
- The financial plan is flexible and informative, the Strata is able to manage the maintenance and capital renewals of the common property according to the requirements of the Strata.
- Providing full disclosure to the Strata lot owner and prospective buyers of the current general condition of the building, and anticipated future costs for capital renewals.
- Partial mitigation of the Strata Council’s legal obligations to maintain the property.
- Compliance with the December 13, 2011 amendments to the BC Strata Act and Regulations requiring preparation of a depreciation report.