Reserve Fund Study Companies and Building Inspectors

[chadmielke]

Hello MyReinSpace users!!

Wow I love this site! More and more when real estate questions come to mind, I turn to this site for answers. What a resource!

I`m in the midst of a situation that I`m hoping more seasoned veterans can help me with. I purchased a condo in a project whose phases have been completed over the past summer. The other night I attended our first AGM and joined up as a board member because I want this condo to be a great success; both as a home for many people but also to protect my investment. After the dust settled our board was made up of 7 young adults with me being the only one with previous board experience and even I don`t have much of that.

I`ve heard horror stories in the past about builder`s warranties expiring before all building deficiencies have been settled, ridiculous special assessments being issued, etc, and do not want that happening to a project that I own in. We want to get the ball rolling on this as soon as possible to uncover any problems early and deal with them accordingly. Collectively the board has already come up with some pretty serious issues and so I`ve started this topic to learn who we should approach to get our Reserve Fund Study done and who we should get to Inspect our building.

The condo is situated in Grande Prairie and so we are looking for companies in the area. The other board I sit on had their Reserve Fund Study done with Wade Engineering out of Edmonton but that was over 10 years ago and I believe it was Wade`s first kick at the can. Can any one comment on Wade and their product since then? Can anyone recommend any other companies to me? Preferably I`d like to get an engineering firm to do both a professional building inspection and do the study in one go if that`s possible.

I`ve also been informed about CAP (Condominium Accreditation Program) and their services and am excited to give them a call and work with them. Can anyone give me more information on them as well? Thank you all so much in advance!

Please help me!

 

[mikecunning]

HI Chad:

I`m not familiar with Wade et al, however we use Glen Cowan`s office out of Edmonton quite extensively and have had excellent results.

I`ve just been introduced to CAP. Bonnie Merserault (REIN member, you can search her through this forum) has used CAP and has been quite happy with them. If you can`t find her send me a note and I`ll pass on her contact details.

Cheers

Mike

 

[neill]

Any of the previous mentioned contacts willing to do work in Airdrie?

Thanks
Neill

 

[timk519]

I was on the BOD of a co-op for 3 years, and something they did that that was very useful was a technical audit. This was an end-to-end review of the property with a report on what would need to be replaced when, which enabled the community to plan it`s reserve funds over the next 25 years.

 

[chadmielke]

Hi Tim,

I`m wondering if you could pass on the name of the person or the company that performed the technical audit for you? Would be much appreciated!
Chad

QUOTE (timk519 @ Nov 23 2007, 05:24 PM) I was on the BOD of a co-op for 3 years, and something they did that that was very useful was a technical audit. This was an end-to-end review of the property with a report on what would need to be replaced when, which enabled the community to plan it`s reserve funds over the next 25 years.

 

[timk519]

QUOTE (chadmielke @ Nov 26 2007, 07:02 PM) I`m wondering if you could pass on the name of the person or the company that performed the technical audit for you? Would be much appreciated! Chad Unfortunately, that was 13 years ago, and I have no memory of who did the work.