What are Allocation of Cost Reports?
Large buildings with multiple strata plans maintain their shared facilities via the building management committee. The portion of funds allocated to each strata plan to maintain these facilities can come into dispute if they have been registered by means that do not take into account certain variables such as façade area, use, strata plan allocation, unit areas and the likes. An Allocation of Cost Report review the fund allocation percentages registered under the building management committee with a set of fresh eyes and a more scientific and methodical approach. This then enables the stakeholders to agree and re-register the list of shared facility cost allocations with the Land Titles Office.
How are Allocation of Cost Reports Useful?
Allocation of Costs Reports carried out by a third party such as a quantity surveyor, allows for an independent and impartial review based on scientific methodologies. These methods take into consideration the current use and accessibility of each item so that they also align with the needs of the strata plans so that the funds are distributed to those who use each asset most. By doing so, they provide the opportunity for mediation amongst the building management committee and individual stakeholders.
What do Our Reports Include?
- Inspection details
- Shared Facilities Register allocation of cost proposal
- Side by side comparison of existing register vs. proposed
- Qualifications against each shared facility item where the interpretation could vary
- Allocation of methodologies against each shared facility item
- Addition and assessment of new shared facilities items
Why Choose Us?
- Easy-to-follow reports.
- Rational, unbiased allocation of cost assessments.
- Flexibility in engaging with stakeholders to ensure each item satisfies the interests of all parties without compromising the integrity of the assessment.
- Competitive fees.
- Almost three decades of strata experience. So we know that every dollar counts.
- Friendly client service and established and esteemed relationships with strata managers.
- Unobtrusive site inspections that can be undertaken contact free.
How do I Get a Quote?
Email us at firstname.lastname@example.org with a copy of the strata plans and we will get back to you with our fee proposal. If you are a strata manager, we can email you through a Schedule of Fees for all our strata services.