The Advantages Of A Building Assessment Report

“As the article highlights, it is vital to be proactive when it comes to future works, repairs and maintenance in your building. It’s better to be safe than sorry!” – Zac Gleeson, Director

When planning repairs and maintenance on a building it can be beneficial to consider engaging a company to conduct a building assessment report.

A building assessment report can work wonders by giving insight to the “health” of the building and its condition. The report can also help with prioritising the items that are most important such as ensuring compliance is maintained throughout the building as well as help the body corporate make logical decisions to achieve the best outcome.

Transparency

A building assessment report can play a big role in ensuring transparency is maintained, giving all owners an educated understanding of what the building requires now and possibly for the next 3+ years. Transparency is key to successfully managing the spending of monies on the asset with the benefits to the building being at the forefront of all decisions being made.

A building assessment will help identify.

• The current condition of the building.
• Risks associated with the current condition of the building.
• Defects in the building.
• Helps determine total remedial costs.

Common building concerns.

• Rooftop waterproof membranes
• Podium and balcony waterproof membranes
• External building concrete expansion joints and cracks
• External building concrete spalling
• External building paint
• Building windows
• Common areas

If it ain’t broke, don’t fix it.

Unfortunately, there is a common saying …“if it ain’t broke, don’t fix it” This way of thinking can be detrimental to not only the integrity of the building, but it can also cause financial hardship to a body corporate.

Effective maintenance planning is crucial, this is where the benefits of a building assessment report will be of “value” as it will give you an educated understanding of the “health “of the building  which can be used to map out when and how each stage of the building’s maintenance and improvements are conducted.

Reactive vs Proactive

Being reactive by only fixing something when it breaks will cause the body corporate to make irrational decisions due to the unplanned event, and no doubt cause a false economy because of the urgency in fixing or repairing the problem.

False economy is an action that saves money at the beginning but which, over a longer period of time, results in more money being spent or wasted than being saved.

Being proactive by maintaining a scheduled list of future works on the building can be beneficial to everyone who has a vested interest and giving all stakeholders peace of mind. This is where a building assessment report comes into the equation.

Conclusion

When trying to get an understanding of the true condition of a building … your asset; requesting a  building assessment report is the best way forward. Developing a long-term maintenance plan with an expected budget forecast will not only maintain the buildings integrity, but it is also more likely to ensure your asset continues to retain its value and capital growth.

Source: Smart Strata

Grant, M. (2021, January 29). The benefits of a building assessment report. Smart Strata | Body Corporate Management. https://www.smartstrata.com/the-benefits-of-a-building-assessment-report/