Property Management: Capital Improvement Project Administration
With any property there comes a time when major building systems or components need to be replaced or restored. Harvest Properties provides common area replacement project administration services. The fee for these services is a percentage of the total project cost on any project over a set dollar limit requiring a third party contractor that is not a recurring monthly maintenance item. The capital repairs process is complicated and requires a significant amount of management time and expertise. The scope of project management for a large capital repair project includes but is not limited to:
- Coordination of project team, including engineers
- Assistance in preparation of project scope
- Assistance in preparation of request for proposal
- Bid solicitation and walk through
- Contractor selection
- Pre-construction meetings
- Contract administration
- Financial administration
- Analysis of funding mechanisms
- Facilitating bank loans
- Processing payment requisitions
- Managing unit assessments
- Coordination of work with contractors and residents
- Attendance at weekly construction meetings
- Communication with engineers, contractors and residents
- Processing of change orders
- Warranty enforcement
While the consulting engineer would be “overseeing” the contractors, their function is to ensure that the contractor is completing the work as laid out within the building plans and specifications. The engineer’s goal is not to maintain the best interest of the Association but rather to ensure that the job is being completed as they designed. Harvest Properties plays a critical role in making sure that all parties involved in the process are upholding their responsibilities and that the best possible end product is delivered.
See below for a list of recent common area replacement projects administered by Harvest Properties.
56 Condominium Property, Cambridge, MA – Extensive exterior renovations, including the removal of brickwork above all windows at this 56 unit property. Installation of window header flashing. Replacement of brick headers. Refinishing of all unit balconies. Replacement of all condominium windows and sliding balcony doors. Restoration of brick entrance stairs and retaining wall, including 100% re-pointing and new decorative stone caps. Project cost – $600,000.
48 Condominium Property, Winthrop, MA – Re-piping of common area gas line. Replacement of all dryer vent ducting to all units in this 48 unit building. Replacement of 2 elevator pistons. Project cost – $360,000. This property is also in the process of waterproofing decks, window flashing and siding replacement. Estimated project cost -$1,400,000
14 Condominium Property, Lynn, MA – Re-pointing of exterior brickwork and structural repairs to 100 year old brick firehouse condominium consisting of 14 residential units. Project cost – $220,000.
62 Condominium Property, Salem, MA – Exterior restoration and waterproofing of brick and EFIS building. Project estimated at $2,500,000.
30 Condominium Property, Lynn, MA – Brick re-pointing and structural repairs to 100 year old warehouse loft style condominium property. Project estimated at $420,000.