Performance audits are mandated by the Ontario Condominium Act and include a comprehensive review of all common element building systems. These reports are employed, along with the Tarion Warranty Program deficiency tracking protocol, to assess construction defects in condominium common elements and form the basis of Tarion conciliation and warranty assessment reports. Our reports are based on our on-site review, any invasive investigation, and occupant surveys. Once the report is complete and has been submitted to Tarion, our team assists condominium boards by presenting arguments for repair and assessing the builder’s proposals for repair throughout the Resolution and Conciliation processes.  

As part of our Performance Audits, we provide an engineering project team to review all common elements, a thorough understanding of the Tarion claims process, a focus on maintaining good working relationships with the goal of cost-effective deficiencies resolution, and attention to specific concerns of the Board and property manager. We also produce an evidence-based report focused on building performance, warrantable components, and building code deficiencies, and provide clear questionnaires to record and summarize the Owner’s reported deficiencies.

Following a detailed on-site review of all building systems, Pretium generates cost and schedule tables for remedial work and rehabilitation, supported by a narrative. Standard or client-selected building component identification codes are used for the client’s budgeting processes. 

Pretium provides a full-service engineering team including building envelope, structural, mechanical, electrical, elevator, environmental, and accessibility specialists. We complete a detailed on-site review of the physical condition of components and quantities necessary for budgeting. We also provide photographs and diagrams of documented site observations including the extent, severity, and significance of any items noted. We offer options for repair or replacement with budget estimates and priority assessments. We provide custom summary reports and tables aligned with client requirements for individual properties or entire portfolios. We also offer flexibility, with the ability to extend the plan to the design and management of the repair or replacement and custom reporting to work within our client’s existing asset management system or software or the option to develop a new custom report for clients without an existing system in place.

Reserve Fund Studies, mandated by the Ontario Condominium Act, create a funding forecast necessary to maintain common element components and include all mandated funding schedules.

Various funding scenarios may satisfy a condominium’s obligations to fund capital repairs and our team is here to help determine which funding scenario suits a property. We prepare capital expenditure plans for single properties, grouped properties, and complete portfolios. 

Reserve Fund Studies provide a review of the common element components, documentation of past repair and replacement work and a schedule of common element components with their life expectancies. We adjust our findings based on condition and we phase and sequence repairs and replacements to align with normally applied procedures. We provide detailed cash flow tables and a schedule of capital repair and replacement costs based on information in our database. We also offer assistance to management and owners in developing a funding plan that meets obligations while minimizing financial impact. We provide updates to the reserve fund or capital expenditure plan to accommodate actual expenditures, respond to emergencies, unforeseen expenditures, and changes in the owner’s priorities.