A Building Condition Assessment (BCA), also known as a Facility Condition Assessment (FCA), is a systematic inspection, review, and report on the state of a commercial building’s structure and systems. It is often compared to a home inspection, but it provides more detailed information and is necessarily more complex due to the nature of and…
If you’re planning new construction for your business this year, you may want to hire an owner’s representative to protect your interests. Your owner’s rep will be your right hand in keeping your project(s) on budget, on schedule, and at the quality you expect. Be aware, however, that not all owner’s reps are the same….
If you’re planning construction projects this year, you understand the importance of assembling the right team to design and build your new facilities. What you may not have considered is the importance of hiring an owner’s representative to oversee those projects. If you haven’t considered hiring an owner’s rep, or are on the fence about…
When you hire a contractor to conduct renovations, repairs, or to construct a new facility, many property owners and managers know that the contractor should be required to bond the project. But what exactly does it mean for a contractor to bond a construction project, and why should you care? Contractor’s bonds mitigate owner risk…
When a contractor advertises that their company is “bonded and insured,” it provides a level of trust for the owners and managers who hire them. Unfortunately, not all bonding and insurance is created equal. Owners who don’t thoroughly understand the types and levels of contractor’s insurance put themselves at unnecessary risk. Here’s what you need…
For lending institutions, issuing a construction loan presents unique and substantial risks, from the contract phase to pre-construction, construction, and final payment. And, due to the nature of long-term lending and property ownership, those risks don’t end just because the construction project does. Successful lending relies on the lender’s ability to manage and mitigate those…
