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Thread: Larger Condo Repair Help/Advice Needed

  1. #1

    Default Larger Condo Repair Help/Advice Needed

    Looking for a bit of advice in regards to a larger condo renovation issue and how to manage a large repair($700,000k) and all the costs that will come with it. Engineering firm has determined issue. Contractor is hired to fix the issue. During the investigation new issues pop up and now another contractor needs to be added to the mix. Main question i have is how can a condo board sort out the costs are "reasonable" with such a big repair? When a contractor is hired to handle repairs is it unreasonable to source alternative quotes to ensure the prices aren't out of whack?

    Having issues with taking a pretty vague estimate on a repair from one contractor for such a large job. Quotes keep coming in at a maximum price range but change weekly. Anyone been through something similar? Whats the best way for a board to do its due diligence while still proceeding in a timely fashion with the repairs?

  2. #2
    I'd rather C2E than work!
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    Our board.. always required three estimates.

  3. #3

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    getting some fight back from the property manager like that's not normal to do in such a bigger repair.

    Costs are constantly changing as things progress which is understandable but I didnt think it would be that odd to have a few extra quotes along the way through the repair.

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    First place to start is with your bylaws - do they require three quotes over a certain dollar amount? Second place to start is with your property management contract - does it require three quotes over a certain dollar amount? Changes in scope that involve new trades should be met with the contractor securing three quotes. Changes in scope being made to the scope of existing trades on the job should be certified by the project consultant as being reasonable and outside check prices secured of appropriate (check pricing can be hard to get and isn’t always reliable). You could secure the services of a quantity surveyor to confirm quantities and pricing but that’s also an added expense. If you haven’t consulted your board’s lawyer, it sounds like you should. That’s also an added expense but it will be a lot smaller now than later.
    Last edited by kcantor; 18-10-2018 at 08:02 AM.
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  5. #5
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    7K, I could believe the property mgmt company that several quotes are not required.
    But several hundred thousand?? completely unacceptable. Several quotes for sure. I would also look for a new mgmt company afterwards.

  6. #6

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    Bylaws dont require 3 quotes. Our policy is anything over a set amount requires additional quotes but that's not happening.

    It seems the property manager thinks additional quotes will slow things down(I disagree). As the scope expands to Include more issues we wanted quotes to ensure prices arent out of whack.

    Was curious to hear from anyone who handles large renos/repairs to see if it's that unusual to have third parties quoting along the way. I've never heard of a quantity surveyor. Curious what that would cost.

    Not sure how our lawyer would help with the costs as things move along.

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