Property Profiles
MEMORIAL DRIVE TOWNHOMES
Property Type: Single Family Townhomes
Size of Units: 1600 – 2200 sq. ft.
Price Range: $120k - $240k
Year Built:1968
Size of Property: 198 Units, 13.43 Acre's
Background:
In the property's 40 year history records indicate that onsite
management & maintenance was maintained until the 1990s.
Since then, the property has been self managed by the HOA Board with the assistance of a property management company. The condition of the property began to decline as a result of a "fix it as we go" type of maintenance plan. Homeowners would report a problem, a work order would be generated, and several contractors would be contacted to submit an estimate.
The approach to maintenance was to execute repairs as the need arose. This type of maintenance program only puts a band aid on a problem, it does not address the cause of the dilemma.
Inspection Report – 1-21-2009:
- The overall condition of the property is fair.
- The property has been maintained on an as needed basis. There is no clear management system in place for the maintenance and or repairs to the property.
- The repairs have been executed by miscellaneous contractors that are assumed to be accurately trained and use the appropriate materials.
Without extensive knowledge of building systems, materials function, necessary management and proper organization, this management style has lead to greater expense for homeowners. Lack of understanding of cause and effect between all components of a building has resulted in premature failure of the structures. Because of this lack of management and maintenance, the complex has fallen into a more costly replacement phase of maintenance, instead of a preventive phase of maintenance.
Proposed Plan of Work and Maintenance Plan:
After careful consideration of the financial, inspection, and projected maintenance reports, the following is the ten years proposed plan. This is a stepped approach, taking into consideration homeowner comfort and financial feasibility.
- Maintain the buildings that are in moderate condition. Perform only absolutely necessary repairs to contain items that will cause further damage, and extend the life of existing components for future longevity.
- Begin a heavy replacement phase of components that are in need of replacement now.
- The final phase will be to finish the replacement of items that are now at the end of their service life and complete the revival of all building systems and components. These phases are intended with the ultimate goal of implementing a less expensive Preventive Maintenance Phase to sustain your investments.
There are other services and related infrastructure items at the end of the budget. The Homeowner Association has the option of adding these to the plan as time and budget will allow.