Operational Cost Asessment
Banks and other financial institutions generally require developers to prepare a detailed analysis of the costs associated with the operation of a build-to-rent facility as an essential component of the overall feasibility study. Each Operational Cost Assessment OCA report requires careful consideration of all costs associated with the operation of the facility. Costs will include caretaking / building manager duty requirements, administration costs, utility service costs, maintenance costs etc. Our experience is that each client’s report will generally have specific needs in relation to layout and approach, due to the differing characteristics of the projects, and particular client requirements.
Leary and Partners have a long history of preparing and pricing caretaker / building manager duty schedules for residential strata schemes and operational cost reports for aged-related care facilities. We also have extensive involvement with the preparation of maintenance forecast reports for large scale retirement and aged care facilities and strata schemes. Through this involvement, we have acquired unique professional skills that are needed to prepare build-to-rent operational cost assessments for residential developments. Our clients include developers, managing agents and financial institutions.
Build-to-rent facilities may comprise a standalone development, however, it is often the case they incorporate both residential and commercial components that operate under a building management statement or a strata plan (or both). Leary and partners have long- term experience advising clients regarding shared facility arrangements within building management statements. We are happy to provide these services in conjunction with an OCA report if this is appropriate for your development.
If you have an existing build-to-rent facility or are in the planning stages of a development, please call us to discuss your requirements. One of our senior quantity surveyors will talk you through the process and provide advice on the best way to provide you with an operational cost assessment (OCA) today.