While building owners can’t do much about decreasing property values caused by a poor economy, they can prevent further erosion of the value of the asset by assuring that proper and timely maintenance is keeping the investment in top condition. A few dollars spent now can save thousands down the road. The architects and engineers at Merritt & Harris, Inc. are skilled at evaluating the condition of buildings, mechanical systems, and equipment and in developing capital expenditure schedules and reports aimed at keeping your property at its peak value. Hands-on engineering knowledge and experienced cost estimating sets the firm apart in this field. As a truly independent consulting firm, Merritt & Harris, Inc. does not manage any properties or assets. Our evaluations are uninfluenced by any association with those who have been charged with maintaining the subject property.
Each Property Performance Assessment begins with an observation of the property to determine the physical condition of the building envelope and mechanical equipment. Merritt & Harris, Inc.’s (M&H) architects and mechanical engineers are skilled in performing this evaluation as each has more than 15 years hands-on experience inspecting buildings and mechanical equipment. The observation provides the basis for determining condition and remaining life of the various building components. At the time of the building tour, the maintenance and repair records are examined and the building’s engineering and maintenance staff is interviewed.
The information gathered from these tasks is examined and analyzed by the M&H team. Engineering estimates are applied to rectify the deficiencies observed and replacement costs are determined for systems and equipment that can be expected to require replacement during the term of the capital expenditure schedule (normally 2 to 12 years, as requested by the client).
A written report is then prepared with descriptions of each observed deficiency and recommended remediation. Capital expenses are presented by year in an easy to understand schedule for use in budgeting.
Merritt & Harris, Inc.’s Property Performance Assessments are cost effective and backed by the reputation of the industry’s oldest and most respected consulting firm.
For more information or to discuss protecting your real estate investments by conducting a Property Performance Assessment call 212-697-3188 and talk to Edward J. Bellavigna, AIA, Senior Associate, at Extension 313.