Maintenance of Strata-Physical Assets
What do we mean by Building Asset Management?
All Property Consulting has developed a system of tracking the lifetime expenditures on your major components.
Many management companies do not have such a program.
What are Building Assets?
The assets of a strata corporation are the components of the common areas of the strata corporation which are the responsibility of the strata corporation to maintain. Depending on the type and style of the strata complex, the assets may vary from the basics of roofs, windows, doors, siding, roadways, landscaping in town-house style complexes through to roofs, windows, doors, siding, exterior finishes, boilers, elevators, booster pump packages, emergency generators, air conditioning units, domestic water delivery systems, exhaust fans and motors, hallway carpets and landscaping.
Why have a Building Asset Register?
By establishing a building asset register of the components of the building, a strata corporation is able to track all expenses related to these components. This enables the owners of a strata corporation to monitor the cost of repairs and to make informed decisions whether to continue repairing a certain component, or whether it would be more prudent to either upgrade or replace the component.
When you possess this knowledge, you are better able to make educated financial decisions which ultimately save the corporation money.
We are happy to share more detail in one of our in-person presentations. To schedule yours, please PUSH HERE
What You Need to Know
- Strata Governance
- Strata Communication
- Strata Financial Control & Administration
- Maintenance of Strata Physical Assets
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