A Transition Study is defined as an evaluation of the condition of the property at the time the Board or Management Company takes it over from the Developer.
Typically, one is concerned with whether all elements are complete, if construction was completed in compliance with plans and specifications, appropriate approvals were obtained, and that there are no construction defects or developing concerns. The purpose of the Transition Study is therefore to determine if the project is complete and reasonably consistent with the relevant construction documents and regulatory approvals. The result of our study will recommend if the newly formed association should accept the complex as is, with conditions, or not accept it until certain work is done.
Our work will include the following:
- Review all available construction documentation.
- Review reasonably available regulatory/municipal approval.
- Discuss the project with current management company and/or staff.
- Review the electrical, mechanical, structural, site, and life safety systems for their reasonable compliance with acceptable construction standards.
- Review and evaluate the exterior of the entire building, including the exterior façade, roof system, and common areas as they relate to future maintenance and repair issues.
- Review and evaluate all interior common area facilities as they relate to the future maintenance and repair issues. This portion of the project will include the inspection of approximately 15% of the unit interiors. This provides a better understanding of the buildings.
- Review and evaluate the site for any future maintenance and repair issues. This would include the review of the following:
- Adequacy of drainage systems
- Adequacy of exterior lighting
- Other relevant conditions
- Develop a draft report, including estimates for any work needed, for the association to review and comment on.
- Develop a final report for the building, discussing the various items evaluated with regard to their current condition and expected future performance. Our report will also address issues and concerns relative to common area elements that were brought up to you during your review of the draft report. Associated with this plan would be the final version of our estimates and our recommendations for:
- Accept complex as is,
- Accept with conditions, or
- Decline to accept until certain work is done.
- We will provide five copies of our complete report and one copy of a condensed “Owners Summary” for your use.
- We will be available for meetings to discuss our findings with the Board of Directors or full membership.