Asset management planning
Asset management planning is essential for all organizations who own or manage real estate to preserve, protect and optimize the value of your properties. It’s useful for assets and groups of all sizes, from large-scale municipal properties to nonprofit housing societies and housing co-ops. Our asset management planning service includes a detailed investigation into the status of your physical assets and your financial capacity. We create a tailored financial plan with a 30-year capital repair projection, prioritizing known deficiencies and repair projects that align with your priorities. Our comprehensive plan enables you to monitor the performance of your assets with financial projections and performance benchmarks. Terra starts by completing a survey of your assets. We examine any and all documentation that describes the historical and current physical state, relevant financial circumstances and other information pertaining to the property. We meet with maintenance and management staff to understand any building defects, past renovations, upgrades and current performance and functional deficiencies. We conduct tours to review any specific issues that have arisen in the survey and the interviews. A diagnostic survey of major problems and defects may be recommended to reduce the risk of uncovering hidden defects during the course of renovations.
Terra offers full-service project management to identify and mitigate your risks, and guide you through the process of renovating, repairing and maintaining your assets. We act as the owner’s representative throughout the construction phase, ensuring your best interests are prioritized and that you have the expertise needed to successfully deliver complex renovation projects. We help you retain the necessary professional services to develop the scope and design documents, coordinate with architects, engineers, lawyers and advisors, determine the right construction methodology, and develop a budget and project schedule. Through construction, we assist with the administration of the contracts, including negotiations relating to construction, change orders and deficiencies. We attend regular site visits and conduct monthly inspections to ensure adherence to the schedule, budget and specifications. We maintain the books from the start of construction to close-out, managing holdback accounts, coordinating GST considerations, ensuring the adequacy of project insurance, and ensuring one-year warranty inspections are completed.