Cash Reserve Studies and Other Consultation for Self-Managed Buildings & Property Managers

Unanticipated expenses and unresolved complaints ruin client relationships. We can help avoid special assessments and provide a way forward in assuaging occupant concerns.

Cash Reserve Studies

Managing a New York City apartment building requires balancing long-term physical preservation with strict fiscal responsibility. For self-managed buildings, managing reserves is a crucial fiduciary duty. For property management companies, providing clear, predictive capital planning is important for maintaining building health and client trust. 

A professional cash reserve study replaces guesswork with a competent review of the building to determine upcoming major expenditures and time frames, ensuring your building stays ahead of necessary repairs. 

Key Benefits for Boards & Property Managers

• Minimize Board Liability: Protect board members from fiduciary risk by basing financial decisions and reserve funding levels on independent consultant information.
• Streamline Property Management: Empower managers with a clear outline of when major repairs are to be done, reducing emergency repairs and operational friction.
• Eliminate Special Assessments: Avoid the surprise special assessments and emergency loan requests that disrupt owners and fracture board-shareholder relations, especially in older buildings.

Physical Site Analysis

Our evaluations cover these major building components typical of NYC apartment buildings: 

• Facades
• Roofing systems
• Parapets (annual inspections are required for most buildings)
• Windows
• HVAC systems
• Plumbing
• Electrical service capacity

Comprehinsive Written Report

• Assessment of the remaining useful life and estimated replacement cost for major building components.
• Documentation of components that still have remaining service life but are in need of repair.
• Documentation of specific occupant concerns and recommendations for moving forward.

Occupant Complaints

We also provide on-site review and recommendations to help resolve occupant concerns so that building issues don't result in long-term dissatisfaction with building management. When dealing directly with building occupants, our compassionate approach helps occupants feel heard.

Professional consulting and documentation for specific occupant concerns includes HVAC problems and water leakage (very common in boutique apartment buildings that were built within the past 25 years). When a specific diagnosis cannot be rendered without a forensic investigation, we can still advise what the next steps for resolution should be.

Mold testing and remediation protocols

Mold in buildings can lead to allergic reactions and health issues for sensitive individuals. We offer nold testing and the writing of remediation protocols by a NYS-licensed mold assessor. In New York State, remediation protocols (instrucutions for the safe removal of mold without speading it to non-contaminated areas) must be written by a different individual (mold assessor) than the party who actually performs the removal (mold remediator).

Protect the building's value and secure its financial future before the next infrastructure emergency arises. Address occupant concerns to preserve client satisfaction. Partner with a NYC building consultant with more than 25 years experience who understands the complex needs of boards and property managers.