Capital Expenditure Budget and Building Condition Reports
When setting service charges, reserve funds or budgets; a landlord, managing agent or individual property owner needs a clear understanding of the condition of their premises and accurate projected building repair and maintenance costs.
At LBB, our Chartered Building Surveyors have this specialist knowledge and years of experience. We can provide advice that helps you plan and budget for the cost of future maintenance and major works that may be required, or that may arise in compliance with lease or statutory obligations.
We offer an easy-to-follow report specifically designed to help property owners or managing agents make sensible provisions, and set budgets and plans for the future maintenance of a building.
Our reports guide property managers when setting service charges and reserve fund contributions, so they can be balanced evenly over a number of years to try and avoid (as far as possible) large one-off service charge demands for foreseeable expenditure on major planned maintenance work.
The CAPEX reports are often set over a 10 year period, but longer timescales can be used.
We have carried out hundreds of these reports for national managing agents, housing associations and many individual property owners – some on a large portfolio basis comprising several hundred properties at a time.
Many of our property manager clients feel more secure knowing that provision has been made for future major repair costs.