Condominium Performance Audits
Unlocking the value of performance audits with CDW Engineering
Performance audits are a requirement for some Condominium Acts, such as Ontario, and are critical for identifying deficiencies that need to be addressed in newly constructed residential condominium buildings and common element corporations. Although a performance audit may not be required in your jurisdiction, we feel this is a necessary step to protect your investment.
Why performance audits are undertaken
Performance audits are undertaken on newly constructed buildings. The purpose is to ensure completion of the work, confirm the work generally conforms to the construction documents, such as drawings and specifications, and to identify any deficiencies noted in the materials or workmanship, based on a visual walk through survey.
When performance audits are required
According to regulations, performance audits must be done prior to the condominium’s first anniversary of registration. This timeframe is consistent with other important assessments, such as the Reserve Fund Study, which is also due within the first year of registration. By combining performance audits with reserve fund studies, condominium organizations can streamline the process, save money, and assure regulatory compliance.
Qualified assessors for reliable assessments
The integrity of performance audits hinges on the qualifications of the assessors. In some provinces, only professional engineers or certified architects are permitted to conduct performance audits. CDW Engineering understands the value of having qualified professionals at the helm. Our team consists of building consultants and professional engineers who bring a wealth of experience and expertise to every performance audit, ensuring accurate assessments and actionable insights for our clients.
Comprehensive scope of assessment
The performance audit involves a visual review of the common element components, to determine if there are any deficiencies that should be addressed.
Detailed reporting
Our performance audit reports adhere to the requirements of the Condominium Act. Our performance audit reports include essential details such as the inspector’s certificate of authorization, inspection findings, reviews of final reports and surveys, and a comprehensive list of identified defects. By providing clear and concise reports, we empower condominium corporations to make informed decisions about the construction of their investment.
Our reports will be submitted to the Board within the prescribed timelines.
The benefits of partnering with CDW Engineering
Condominium corporations benefit greatly from using CDW Engineering for performance audits. Our vast experience and proficiency in performance audits ensure clients obtain professional, clear and concise reports that adhere to all requirements in the condominium act.
Mitigate Risks
Identifying defects and performance issues early allows clients to take proactive measures to address them, mitigating potential risks and liabilities.
Ensure Compliance
Our thorough assessments ensure that condominium corporations comply with regulatory requirements, reducing the risk of penalties or legal issues.
Enhance Property Value
By addressing defects and optimizing the performance of building components, clients can enhance the overall value of their properties, attracting potential buyers and investors.
Facilitate Informed Decision-Making
Our detailed reports provide clients with the information they need to make informed decisions about their investments, ultimately providing a position of strength in negotiations with the developers.
Experience the CDW Engineering Difference
Discover why we are the preferred choice for performance audits. Contact us today to learn more about our services and schedule a consultation with our team. Let us help you protect your investments and achieve your goals with confidence.