Strata repairs are a huge part of the work performed by Island Builders Ltd. We provide services specifically for strata operated buildings including: siding, drain tiles, leak repairs and repairing decks. Island Builders Ltd does any and all work necessary. Our qualified professionals can also provide written assessments of building condition. We have building envelope engineers and architects that can provide the strata corporation with all the required documentation. Our portfolio includes numerous jobs performed directly for strata corporations and property management companies and we can provide outstanding references.
As many Strata Council’s have become aware, a Depreciation Report (formerly Reserve Fund Study) assists a strata with determining how to fund and how much funds should be kept within the Reserve Fund. It is a financial planning tool that projects an estimated amount for future common area repairs, such as the roof of the building(s), the parking areas, balconies, etc. Once a Strata Council has voted to obtain a Depreciation Report, a new report must be obtained every 3 years. The intent of the report is to provide financial guidance so that each owner can make informed financial decisions regarding the future of their condo, and to assist the Strata Council of a building with making decisions regarding the management of the common property.
Island Builders Ltd. prepares thorough Depreciation Reports to assist your Strata in it’s financial planning. Our reports include an assessment of all the common areas of the building(s), including the parking structures, roofs, elevators, hallways, balconies, etc. The assessments outline the estimated remaining service life of each area, an estimated cost of what the replacement value will be, and a financial plan outlining a recommendation of how much should be placed in the Reserve Fund to plan for these future expenditures. We offer the report at a fair price and prior to hiring our company to complete the Depreciation Report we can provide you with a comprehensive outline of everything that your Depreciation Report will include.