Property Turnover And Condition Assessments

Property Turnover And Condition Assessments

Property Turnover And Condition Assessments2024-06-05T05:59:15-04:00

Developer Turnover Process

Florida Statute 718.031 (Chapter 718 Condominiums) requires that once a specified number of condominium units are sold to non-developer homeowners, they are entitled to elect at least a majority of the Association’s board of director seats. When this occurs, the Developer must turn over to the Association specific documents and records, including a Turnover Inspection Report.

It is important to note that this Developer provided turnover inspection report is separate to those reports that the Association may produce as part of a construction defects claim (Chapter 558 Construction Defects). See Frequently Asked Questions below for more details.

Scott points to inspection photo on a TV as Corey and Matthew look on.

Developer Turnover Inspection Report

To produce a turnover inspection report, a Florida Registered Architect or Florida licensed Professional Engineer must first visually inspect the building’s Structural, Mechanical, Electrical, Plumbing, and Fire Protection systems. They must then prepare a report that identifies and attests to the required maintenance, useful life, and replacement costs of the applicable Condominium common elements.

These common elements are defined by the Florida statutes and include the Roof, the Structure (including load-bearing walls, primary structural members, and primary structural systems), Fireproofing and fire protection systems, Elevators, Heating and Cooling Systems, Plumbing, Electrical Systems, Swimming pool or spa and equipment, Seawalls, Pavement and parking areas, Drainage systems, Painting, Irrigation Systems, and Waterproofing.

As of June 2022, the Florida legislature requires that the Developer also provide a Milestone Inspection Report  at the time of turnover. This report must be signed and sealed by a Florida Registered Architect or Florida licensed Professional Engineer who shall perform a visual examination of habitable and non-habitable areas of the building, including the major structural components of a building, and provide a qualitative assessment of the structural conditions of the building.

Whether you are a property owner, manager, community association, Building Mavens’ licensed professionals are available to cover your Turnover and Milestone Inspection needs.

Property Condition Assessments

A property condition assessment (or PCA), also known as a Due Diligence Inspection, is a visual inspection of a property to identify and document the general physical condition and quality of improvements, usually with the intent to sell the property. This allows owners and purchasers alike to detect and present any deficiencies that could have an adverse effect on the property’s cash flow, function, marketability, or value.

Some clients may request a Facility Condition Assessment (or FCA) for their own planning and budgeting purposes outside of any purchase period. This assists owners, who plan to maintain property ownership for a significant period, find the assessments useful for planning capital improvements.

As good practice, our engineers and inspectors recognize ASTM E2018-99 Standard Guide for Property Condition Assessments: Baseline Property Condition Assessment Process as the standard for performing assessments.

Whether you need a PCA for the sale of your property, or an FCA to plan capital improvements, Building Mavens’ professionals have the necessary skills and expertise to assist you. Contact our team today to get started.

Frequently Asked Questions

What is the Developer Turnover of Condominium Associations process in Florida?2024-03-29T16:17:41-04:00

Developer Turnover is the transfer of control of residential associations from developers to homeowners. In Florida, this process is regulated for Condominiums by statute 718.031 – transfer of association control; claims of defect by association. The statute requires developers to turn over control of the board of directors to homeowners when a certain threshold of units within a condominium has been sold to non-developer homeowners. Moreover, developers are required to provide associations with specific documents and reports, including an engineering report. The engineering report is a critical document that identifies and attests to the required maintenance, useful life, and replacement costs of specific applicable common elements, based on an inspection by a Florida Registered Architect or Florida licensed Professional Engineer.

What is a Property Turnover Report for condominiums in Florida?2023-10-06T12:36:49-04:00

Unlike the Developer Turnover Report required by Florida Statute 718, the condominium owner’s Association (COA) may choose to perform their own evaluation of the property and produce a report identifying alleged construction defects for a claim pursuant to Florida Statute 558 (Chapter 558 Construction Defects). Like the Turnover Inspection Report, the report must be prepared by a Florida Registered Architect or Florida licensed Professional Engineer. Unlike the Turnover Inspection Report, the Property Turnover Report identifies the location of the alleged defects, explains the issue and potential impact, and provides a recommendation for either further investigation or repair.

What is a property turnover assessment, and why is it important?2024-03-29T15:14:40-04:00

A property turnover assessment evaluates a building’s condition before it changes ownership or management, identifying needed repairs or maintenance. This ensures the new owner or manager is fully informed about the property’s state and any issues or repairs required, potentially avoiding disputes and ensuring the property’s value is accurately represented.

What does a condition assessment entail?2024-03-29T15:15:06-04:00

A typical condition assessment involves a detailed inspection of the building’s structure, systems (like HVAC, fire, electrical, and plumbing), and exterior elements to document current conditions and recommend maintenance or repairs.

How do you report the findings of a property turnover assessment?2024-03-29T15:15:25-04:00

We provide a detailed report with findings that identify and attest to the required maintenance, useful life, and replacement costs of the applicable Condominium common elements. This includes photographs, descriptions of conditions, and recommendations for repairs or improvements.

How often should condition assessments be conducted?2024-03-29T15:15:45-04:00

We recommend conducting regular assessments every 3-5 years to ensure ongoing maintenance needs are identified and addressed, protecting the property’s value and safety. This is especially crucial before a turnover or major financial decision regarding the property.

Can a condition assessment save me money?2024-03-29T15:16:01-04:00

Yes, by identifying maintenance needs early, you can avoid more costly repairs later and extend the lifespan of building components.

What should I do with the findings from a condition assessment?2024-03-29T15:16:23-04:00

Use the assessment report to prioritize and plan maintenance or renovation projects, ensuring you address the most critical needs first to maintain building safety and value.

How long does a property condition assessment take?2024-03-29T15:16:41-04:00

The time required varies based on the property’s size and complexity, but assessments typically take several days to a few weeks to complete.

Who should perform a property turnover and condition assessment?2024-03-29T15:17:22-04:00

A property turnover and condition assessment should be conducted by a licensed professional or firm with a strong background in building inspections and engineering assessments. This ensures they have the requisite expertise and experience tailored to your property type, such as commercial buildings or condominiums. Ideal candidates will hold relevant licenses for conducting building inspections in Florida, including from the Florida Board of Professional Engineers, and possess certifications from recognized industry organizations. This expertise should be complemented by extensive experience, particularly with properties in the local region, understanding of structural engineering, building systems, and safety standards, which are essential for a comprehensive evaluation.

The assessor’s professionalism and reliability are marked by his or her ability to provide detailed, understandable reports that include findings, photographs, and actionable recommendations, alongside a willingness to discuss these outcomes. The assessor’s utilization of the latest technologies, such as infrared thermography and drone inspections, indicates a commitment to thorough and efficient assessments. References and positive reviews from past clients with similar properties can also offer insights into the firm’s thoroughness and professionalism, helping you make an informed choice for your property turnover and condition assessment needs.

Moreover, ensuring that these professionals carry appropriate liability and professional indemnity insurance is key to protecting your interests.

How can I schedule a property condition assessment?2024-03-29T15:28:19-04:00

Contact us through our website or call directly. We’ll discuss your needs and arrange a convenient time for the assessment.