site. Some have roofing issues (especially ones with mansard roofs), some have building envelope and elevator issues (high rise buildings), the annual cost of landscaping & tree maintenance is an issue with older corporations with mature settings and larger lots, leveling of pre - cast pavers on driveways in some corporations, pre - cast steps, etc. So, it really varies from one to another; however, there is no shortage of them and some corporations have multiple issues. • CW: We often find a range of maintenance issues; however, in older condos we often see decking and fencing being pushed further than they should be and past the point at which they should be addressed. 3.What is the oddest thing you have seen while completing a site inspection? (for levity) • RW: An uninvited tree growing on a high - rise roof. A random seed had found a sufficient patch of dirt in the ballast. Holes in the asphalt driveways of only one block of townhouse units. The owners claim to have seen rats poking their noses out. No rats were reported inside any units. • DP: I cannot point out single oddest thing I have seen but, older corporations tend to have different types of construction compared with the newer townhouses or buildings. Materials in these older buildings appear stronger and more durable but, on the other hand the constructions practices and likely Code requirement and design are quite different than the newer construction. • CW: Several items stand out as being unusual. Smelling my way in a townhouse unit to a dozen rotten raw eggs stored in a dresser after the grandchildren decorated them was memorable. Smelling (again!) my way to the decomposing body of a skunk in a window well was also representative of my engineering degree.
4. What should Board members consider, as they enter budget season, as they review their site inspection/reserve fund study notes? • RW : Most important, a specific Reserve Fund budget should be prepared. This entails a review of the RFS, and an up - to - date assessment by the Board & Property Manager, and some real thinking about reserve fund issues. The RFS is a guide not a blueprint. This seems to me to be a no - brainer, but in my experience, few condos prepare one. In my opinion, the Condition Assessment portion of a Reserve Fund Study with an inspection is one of the most important sources of information. It should give not only a snapshot of immediate issues, but also an indication of the areas to keep an eye on. Do not defer needed work - it may cost you more, and may diminish the market value of the units. Management by special assessment is a sign of failure. • DP: They should look at the entire RFS since each RFS has a scholastic look at all common elements for the design horizon of 30 years. Sometimes, Boards are too concentrated on only some common elements in a very short time span (3 to 5 years) rather than the entire picture. Sometimes they do not follow the pathway the RFS provides and tend to do what they prefer. Issues with inflation and preventive maintenance are occasionally ignored as well, especially since these corporations are not - for - profit entities that are limited where they can invest their money. Interest rates these days are low while the inflation is on the rise so, it appears it is better to replace the common element sooner rather than later. • CW: Board members should consider ensuring that any items which are not slated for major repairs or replacement for many years are reviewed annually for minor repairs which should be done if possible as an operating expense and which will help prolong the overall life of the component.
CCI Review 2021/2022 —September 2021 - 35
Made with FlippingBook flipbook maker