About Mountain View Appraisals
Mountain View Appraisals is a real estate appraisal company that specializes in Depreciation Reports (Reserve Fund Studies) and Replacement Cost Estimates for strata corporations.
Reserve Fund Planning & Depreciation Reports
Mountain View Real Estate Appraisals has adopted the UBC Reserve Fund Planning Program (RFPP) which is a national program designed to provide real estate practitioners with the necessary expertise required to complete a diversity of reserve fund studies and depreciation reports. These standards that are presented throughout our reports consist of investigations, analyses and calculations that provide realistic and supportable reserve fund estimates. The study and resulting reports are fully compliant with the BC provincial requirements as set out in the Strata Property Act Regulations.
Replacement Cost Analysis
An Insurance Replacement cost report sets out the amount of money it may require to replace a structure with a similar type of construction. These values will be provided to assist your strata and/or the strata’s insurance broker in determining the amount of insurance required for each structure and/or amenity on the property.
About Reserve Fund Studies and Depreciation Reports
A reserve fund study is much more than a technical building analysis. It is a financial planning tool that helps owners and property managers to specify a maintenance/capital replacement program for their properties and to budget for the expenditures. This financial plan prevents large unexpected expenditures and, in the case of condominium/strata corporations, the issuing of special levies. This helps condominium/strata corporations to make better use of their time and resources, managing the corporation more effectively and efficiently.
What Are the Benefits of having a Depreciation Report?
Corporations can be more proactive in the repair and maintenance of common property and assets.
Inform individual strata unit owners: The owners of the strata corporation can be better informed of the condition and outlook of the corporation’s common property and assets.
Help reduce surprises & increase financial stability: planning ahead for necessary expenses and avoiding prohibitive special assessments or special levies.
Prolonged Common Area components Life Expectancy: the depreciation report provides information that allows owners to practice preventative maintenance.
Buying, Selling and Insuring: In many cases, banks and insurance company’s require a depreciation report prior to approving financing or insuring a property.