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With apologies to my engineering friends. Under current legislation only a Reserve Fund Study is required every five years. There is no requirement for a technical audit. Although there are some similarities, there is a fundamental difference in the depth of inspection and reporting requirements. A Reserve Fund Study is a review and cataloguing of building components along with a financial analysis to determine how much money must be set aside. A technical audit (Post Building Construction Review / Engineering Report) typically focuses on one component and comprises a detailed review of that component, such as the building structure, building envelope, parking structure or mechanical system. A Technical Audit is far more detailed and would be considered beyond the scope of a typical Reserve Fund Study. Much like that great deal that automakers advertise with a “base model price”, the cost of a Technical Audit is generally not included with a Reserve Fund Study. Many engineering firms provide a quote for the Reserve Fund Study and then provide a price for the technical audit, at an additional cost. Don’t incur extra costs for services that may not be required. When you require a Reserve Fund Study, call Delta Appraisal Corporation for a competitive quote. At Delta Appraisal Corporation we work with property managers and board members to set realistic budgets and to prioritize maintenance and repair projects. Our functional Reserve Fund Studies are unbiased as we are not competitors in the engineering, maintenance or property management components of the business sector. Contact us for further details.
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Delta Appraisal Corporation © 2010 | Newsletter: Clever by Design |