Property condition assessments are an important planning tool for all types of property owners. In combination with a long-term capital budget (reserve study) they are the cornerstone of a successful real estate investment.
Golf courses, country clubs and resort property owners are among the type of clients for which CRC has provided condition assessments services in conjunction with a reserve study engagement.
Churches and fraternal organizations often have significant capital assets. Whether they are fixed improvements like buildings or loose assets such as furniture, vehicles, food service and audio-visual equipment, these assets can amount to millions of dollars in investments.
CRC’s clients include churches and fraternal lodges in several states. If you are an administrator or leader of your organization, we are available for consultation to help you determine your needs.
Our clients include owners of Class A high-rise office buildings, commercial condominiums and rental property owners.
CRC provides reserve studies and condition assessment services to this demanding market sector through a collaborative effort that involves a team of architectural and engineering experts.
To learn more about CRC’s extended network of technical consultants please contact our offices.
Timeshare properties may be organized as common interest developments (CID). In particular older properties which are usually organized as condominiums.
Whether a timeshare development is a CID or a single-owner entity, the plant and equipment includes an extensive array of loose and fixed assets which must be maintained and replaced more frequently than most other types of properties require.
Long-range planning and capital budgeting will ensure that funds are available to maintain the facility, and that the operation remains viable in this highly competitive market.
CRC has worked with public and private universities preparing long-term capital budgets for student housing facilities, educational and administrative buildings.
Due to budget constraints, publicly-funded schools must walk a fine line when determining how scarce financial resources are allocated.
A comprehensive and reliable assessment of the capital spending needs that will be required to maintain these high-traffic facilities is critical to the success of the institution.
In 2010 CRC was awarded a contract to prepare replacement reserve studies for nine US Air Force Base Housing installations in six states. In 2011 CRC was awarded an additional contract to prepare reserve studies for the U.S. Army bases at Fort Leonard Wood, Missouri and Fort Jackson in Columbia, SC.
The project proved to be a laboratory case study that allowed CRC’s field examiners to observe the effects of aging and depreciation on a vast array of real property improvements over a time-line that dated back more than 60 years, under geographic and climactic conditions that ranged from southern Florida to northern Washington state; from the coast of California to south Texas.
By the time the two-year project was completed the wealth of information and knowledge that our team had accumulated was second to none.
Condominiums and cooperatives form the core of CRC’s client base. Depending on the age, size and physical features these properties can be among the most complex and challenging of all.
Adding to the challenge is the common interest ownership aspect of the development plan which divides the responsibility and cost of maintaining and replacing various improvements between the individual owners, who may be responsible for the limited common elements, and the corporation (Association) that is responsible for the general common elements.
The term planned community may be used to refer to any type of development that is planned vs. a development that evolves on an ad hoc basis.
Privatized, planned communities are governed by a homeowner association (HOA) which may be responsible for maintaining infrastructure, site improvements and recreational amenities that is comparable to a small town.
CRC’s clients include residential planned developments ranging in size from a few hundred to more than nine-thousand homes. The capital assets of a large HOA can easily range upwards of $100M, which makes long-range planning an imperative for the success of the community.