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Lalloo Associates provides professional consulting services to condominium
associations, homeowners' associations and property managers. These services
consist of an assessment of the physical condition of the property, and
preparation of a capital repair and replacement schedule. The services provide
valuable information when planning for future capital reserves and calculating
assessments. Also, the services provide important information about the
condition of the property and compliance with the construction documents and
codes when negotiating with the developer at turnover. In addition, the
services are necessary to review and update existing reserve studies every
three or four years.
Property Condition Assessment:
We conduct an on-site observation of the property to assess and document the
physical condition. Property Condition Assessment reports include a description
of each component or system, an opinion of the condition, a description of
defects or deficiencies (supported by photographs), an opinion of possible
causes, recommendations for repairs or replacement, and associated costs to
correct.
Construction Document Review:
Construction documents are reviewed, especially when the developer is ready to
turnover the common areas to the association. The review is essential to
understand the scope of the project, construction quality, code compliance,
legal obligations, and options of recourse for non-conforming conditions.
Capital Repair and Replacement Schedule:
To assist in planning financially for on-going maintenance and future
replacements, a capital repair and replacement schedule of the major common
area components is prepared. The capital reserve schedule includes estimates of
the expected and remaining useful lives of these components, and provides
estimates of repair and replacement costs. The schedule is a vital tool in
planning allocation of capital reserves, and in calculating assessments.
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