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A8 capital news Friday, April 22, 2009

Lifecycle of a condo

M

ost people don’t look at a building and see a living entity. Instead, they see a structure made of masonry, wood, glass and vinyl. However, buildings

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NEWS are very much alive. They breathe, move, make noise and go through a lifecycle much like us humans do. With the anticipated Depreciation Report legislation will come the

need for strata corporations to identify their building’s unique lifecycle and plan to provide the TLC needed to ensure their home grows to a healthy old age. Industry profession-

als have designed a Building Asset Management plan that outlines a familiar pattern that most buildings pass through in the various stages of their lifecycles. The Childhood

Stage—two to 16 years —is characterized by a relatively small number of repair projects that shouldn’t have major impacts on the operating budget. This of course is de-

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STRATA SCENE

Gunnar Forsstrom

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SUNDAY Hours 10:00-6:00 MONDAY & TUESDAY 9:30-6:00 Friday 10-6 â&#x20AC;˘ Saturday 9-6 WEDNESDAY - FRIDAY 9:30-9:00 SATURDAY Sunday 11-59:00-6:00 thebay.com twitter.com/thehudsonsbayco

pendent on the quality of construction and machinery. Certain items such as water heaters, circulating pumps, garage door motors are generally in need of at least repair, or more likely replacement.

Monday 9:30-6

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Wooden exteriors and fences will need refinishing and carpets will probably have to be considered for replacement. The Adolescence Stageâ&#x20AC;&#x201D;17 to 29 yearsâ&#x20AC;&#x201D; is signified by a dramatic shift in the number of challenges faced by the residents. Many of the assets of the corporation will be reaching the end of their lifecycles and will need to be replaced. During this stage, major renewal projects will need to be undertaken. Re-roofing, elevator controls, boilers and plumbing distribution systems will be on the list of assets that will need to be attended to. The Adult Stageâ&#x20AC;&#x201D; 30 to 49 yearsâ&#x20AC;&#x201D;presents the costliest lifecycle with major projects needed to renew such items as building envelopes (siding and windows) and fire alarm panels. Paved roadways and interior decorating are among the other items on a condoâ&#x20AC;&#x2122;s to do list. Old age for a building is 50 +. Professionals point out that there is no direct correlation between the age of a building and its condition. Some older buildings that have been properly maintained are in better shape than newer ones that have been neglected. And just like humans, if the assets have been properly taken care of, residents should enjoy their homes well into retirement. StrataScene is intended for general information purposes only. Gunnar Forsstrom is a licensed strata manager with Coldwell Banker Horizon Realty. 250-860-1411 gforsstrom@coldwellbanker.ca

News from your community Capital News

Kelowna Cap News 22 April 2011  

The Kelowna Capital News from April 22, 2011. Find more news online at kelownacapnews.com

Kelowna Cap News 22 April 2011  

The Kelowna Capital News from April 22, 2011. Find more news online at kelownacapnews.com

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