Engineering knowledge gives complete information for real estate management

A lot of soviet time apartment houses owners/cooperatives struggling with their property management. Well-functioning dwelling cooperative managing quality, after construction works once ended, should be judged by the less unexpected costs and unplanned repairs will be in the future. None of buildings, even built with the best construction quality, will not be eternal without reasonable management. 

Reducing costs will be guaranteed in technically good condition apartment houses. Both, older and newer, where low running cost and maintenance expenses meet today's requirements. These type of houses Technical Due Diligence (TDD) experts would recommend to purchase an apartment. Preferences depend on the buyer's wallet, choosing an apartment in a new, reconstructed or in need of repair apartment houses. When awareness in the market is growing, there will be less of those who make the decision to purchase real estate only by location or salesman description. It is good to know the building energy performance level / label, but it does not give the full overview of real estate future costs.

Know the condition of the building

 In accordance KH-cards (nordic real estate maintenance standards), following guidelines for technical survey will be created for the building a long-term economy managing plan and at the same time secured real estate purchasing transparency. During technical survey of apartment house will be evaluated whole building, owned by the co-owners - foundation, drainage, cellars, framework structures, doors, windows, balconies, loft and roof condition and needs of repair. All the special parts of the building - heating, water supply, sewerage, electricity and ventilation are included. In the apartments particularly, the state of condition ventilation and wet rooms will be assessed. In conclusion to an apartment building physical survey the results will be properly documented and presented with the most commonly used building materials, construction parts, HVAC, etc - so called best before or technical service life chart, plus the approximate cost of the repair and works need to be done. The technical service of life years is determined by the experience gathered from the years of surveys and experience of building structures, components, HVAC equipment, etc durability in northern countries.

 Expensive versus ​skillful​ management

 The most expensive real estate management mode, which valued according to studies by 25-30% more expensive, is characterized by lack of modern engineering information awareness – giving to the owners understandable description about technical condition of their property. Renovations will be made only in volumes of affordable manner, or if they can`t be postponed due to damage. Accustomed to such habitual management, that the work of the builders is the best of their knowledge, the cooperative and owners of the apartment houses will not know that a cheap work may be redone again much earlier, before engineers prescribed time. But as the years have passed and objective evaluation of the performed work has still not been taken, nor adequately documented, nobody any longer remembers the details… For whom will be such management useful – to the cooperative, the owners of the apartments, or maybe for example, repair and construction firms? Conducted technical surveys show for apartments owners that understandable and documented engineering information will provide a comprehensive picture of the cooperative co-owned assets planning, resources for the maintenance necessary and noticeable cost savings.