Preparation costs for Depreciation Report greatly vary. Professional fees for service are dependent on many factors such as; size, location, style (condo vs. townhome), access to original architectural drawing/engineering reports, past contractor quotes and documents on previous repairs.
The subsequent report may only require updating of the original report, however the asset will have aged since the first report and other factors such labour and replacement costs in addition to interest and inflation rates can also change over this period. Regardless whether it is the initial report or subsequent reports, on-site visual inspections are required and all valuation forecasting is to be established for at least 30 years
Our process at Kent-Macpherson is to provide a complimentary, formal proposal to the strata council or associates acting on their behalf.