Property servicesThere is no doubt that property is still a great long term investment but Asset Economics Queensland’s premier Tax Depreciation and
As with all our services from cost planning to certification we are able We have listed below in more detail what services we now provide and |
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Certification:
Full certification service of all class of buildings including
Class 1 & 10 residential, Class 2 to 9 commercial, and
Budget Accommodation Buildings.
Services can include preparation of applications, liaison
with Local Government Authorities, Referral Agencies,
Fire Engineers & Trade Contractors, where required.
As we keep up to date with all pending and proposed
legislation, we are able to offer some cost saving
advantages to proposed projects.Example 1:
A client was staging a development for the construction
of 155 retirement units, and pending legislation proposed
changes to the energy efficiency regulations. While
keeping on top of the progress of the proposed changes,
it became evident that the legislation would come into
force, and would have a detrimental impact on our client’s
remaining 115 units yet to be certified, so our advice was
to have the remaining 115 units certified as a whole and
then propose staged construction, this effectively saved
our client $1,500 per unit, a total of over $170,000.Example 2:
A client who owned a budget accommodation building
was audited by the Queensland Fire & Rescue Service
and it was found that the building did not meet the
legislative requirements for compliance; the client was
faced with the options of closing down the
accommodation side of his business or outlaying over
$100,000 to bring the building into compliance. Our
organisation prepared an alternative solution for the non
compliances that ended up costing the client around
$20,000 a considerable saving, and he could still operate
the budget accommodation building.
Due Diligence:
Carry out Due Diligence inspections and provide a
comprehensive report outlining any non compliance, and
providing advice on the best way to bring the building into
compliance.Example 1:
Our organisation was engaged to carry out a due
diligence inspection on a commercial property for a client
who wished to purchase the property. The outcome of the
inspection showed that there were many compliance
issues with the building and when costed out by the
client’s quantity surveyors, the rectification work would
cost an estimated $500,000, the client then negotiated a
price $700,000 less than the initial asking price.Example 2:
A client was interested in merging with another provider
in the Residential Aged Care Industry. The merger
involved the taking over the control of 35 Aged Care
Facilities Australia Wide. Under legislation all Aged Care
Facilities must be certified by the Department of Health &
Aging as being compliant under the Aged Care
Certification Guidelines. The facilities in question had
been issued with certificates from a building certifier,
stating that they met the requirements of the Aged Care
Certification Guidelines. As an Accredited Assessor for
the Department of Health & Aging, we were engaged to
carry out an assessment of 5 of the buildings. Upon
inspection from our organisation, it was evident that the
facilities did not meet the requirements and after reading
our report, the client rejected the merger. An audit of 3 of
the 35 facilities by the government found the facilities did
not meet the Aged Care Certification Guideline
requirements and the upgrade works to the 3 facilities was
estimated at over $2,000,000. The client in question
saved approximately $1,000,000,000.
Fire Safety Audits:
Fire Safety Risk Assessments and Reports, Compliance
Audits (including AS4655 Audits), Fire Safety
Maintenance Audits and Reports including independent
review of maintenance documentation and records,
maintenance planning and scheduling.
A large number of our clients do not have dedicated
maintenance staff and as a result, most of the
maintenance scheduling and documentation is handled by
an employee with no experience with maintenance
procedures or legislative requirements.
Many clients have not been aware that many of the Fire
Safety features of their buildings had not been maintained
in accordance with the legislative requirements, and when
audited by the QFRS, have been issued with substantial
fines and orders to rectify the issues. Under current
legislation, the onus of maintaining and documenting the
Special Fire Services in a building is the responsibility of
the building occupier or owner.
We can also help with the preparation of site equipment
registers and the ongoing updating of the documentation.Example 1:
A client has a 20,000 sqm building that was divided into
fire compartments that were 1,000 sqm in size. The
required maintenance for the fire separation was never
carried out in accordance with the requirements, and an
inspection showed many breaches of the fire separation
system. The result of a fire in this building had the
potential to burn the entire building to the ground within 1
hour, and due to the lack of correct maintenance, an
insurance claim could have been refused. Upon
rectification of the fire separation, in the event of a fire the
client would potentially only lose 1,000 sqm of lettable
space and as the building was maintained in accordance
with legislation, an insurance claim would less likely to be
refused.Example 2:
A client, who owned a large building that was subject to
a Fire Engineered Alternative Building Solution to allow for
extended travel distances and a greater than normal
number of occupants, carried out Approved building
renovation work, which did not take into account the Fire
Engineered Alternative Building Solution. As it is the
responsibility of the owner to ensure that the certification
documents are kept in a prominent position in the building
and in the building maintenance manuals, the failure of
the Certifier to take the Fire Engineered Alternative
Building Solution into account, rested with owner as well
as the Certifier. In the event of a fire that may have
caused injury or death, the owner of the building could
have faced hefty fines and a prison sentence. The
oversight by the Certifier was discovered during a Fire
Safety Inspection & Maintenance Audit, thankfully on
advice from us, the Fire Engineered Alternative Building
Solution was amended to account for the new work.Example 3:
A client, the owner of a large office building requested a
Fire Safety Maintenance Audit and during the process it
was discovered that many of the maintained fire services
and equipment were not required, to meet building code
requirements.
The client was able to remove a number of extinguishers
and have several doors, which were being maintained as
Fire Doors and were not, from his maintenance regime,
which saved $3,000 per inspection and a total of $12,000
per year. With the expected life of the building being 25
years, this is a considerable saving.
Property Dilapidation Inspections and Reports:
Independent inspections of properties adjoining major
construction works that could be affected by the ground
movement involved in the construction. We have carried
out inspections in properties adjoining development
earthworks, bridge & road construction, high – rise
developments, shopping centres and government
infrastructure.
We inspect prior to construction commencement and
again at the completion of the project, provide a written
report with photographic evidence, to ensure any existing
damage is not falsely claimed against the contractor
involved in the construction works.Example:
On many projects, property owners have lodged a claim
for damage that was supposedly caused by the
construction work, but the damage was evident at the time
of the first inspection, prior to the commencement of the
works, and was documented with photographic evidence,
in the initial report. Needless to say the companies
involved were able to have the claims dismissed.
Building Audits, Surveys & Reports:
Building Audits, Surveys & Reports involving inspections
and reports on Occupational Health & Safety, Access &
Mobility and Insurance Risk Assessment. This service is
offered as part of a pro-active approach taken by owners
and employers to ensure the insurance risk on a
company or building is kept to a minimum. The
independent inspections look at the building and building
use safety & access issues under relevant legislation.
Many companies have their own OH&S Officers, which
are employed by them as part of their OH&S obligations
to their employees. It is sometimes difficult for in house
OH&S Officers to provide an objective overview of safety
practices and procedures due to the fact they are part of
this workplace. Our organisation provides an
independent inspection and assessment of the safety
practices and procedures to enable companies and their
OH&S Officers, to have a better understanding of any
shortcomings in the compliance with OH&S legislation.
We can provide ongoing support by continuing the audit
process on procedures manuals and offer advice on any
new procedures proposed.
Should you have any queries please call us on 1800 191 612
Kind Regards
Matthew Stanley
Managing Director
Asset Economics
Hotline 1800 191 612
M 0422 321 777
E info@asseteconomics.com.au