What Does A Transition Study NJ Include

1. What Does A Transition Study NJ Include? Brought to you by: http://www.lockatong.com/

2. A transition study NJ plays a very important role in managing the financial future of a homeowner’s association. That is why it should never be taken lightly. Also referred to as a defect survey, the transition study involves visual inspection of the common area elements of a property in order to figure out if they are defective. It is basically an overview of the possible defects on a property, whether general or specific. The reason why it is conducted is to determine the definitive scope of the defects and figure out a means to remediate those defects.  You may be wondering about who needs a transition study NJ. Well, this study is very beneficial to unit owners, members of a community association and people who serve on the board of a community association. As a community association board member, you have a fiduciary responsibility to make sure that possible defects on a property are addressed. If the defects are not addressed, they may end up causing economic harm to the owners by reducing the useful life of the property or causing the maintenance costs to be higher than normal. That is why it is very important to conduct the transition study as soon as possible in order to eliminate the defects before they aggravate into major problems.  What Does A Transition Study NJ Include? www.lockatong.com

3. Often, the defects on a property can be visible to the naked eye or hidden. There are some that will not become apparent until the property has been handed over from the declarant control. Carrying out a transition study NJ prior to or shortly after the association is turned over to the board of directors of the unit from the declarant control is best management practice. It will help avoid unnecessary lawsuits or problems in future. It also makes the process of handing over the control of the unit smooth. So how exactly is a NJ transition study conducted? The study starts with an onsite meeting of the property with the representatives of the board or the community association manager. The engineer in charge of the study utilizes the meeting to gather as much information as possible on the property. He will ask about the common problem areas that the property is experiencing currently or experienced in the past. The engineer will also want to know if any action has been taken to remediate the suspected defects. After that, he or she will proceed to carry out a non-invasive visual inspection of the property.  What Does A Transition Study NJ Include? www.lockatong.com

4. It is important to know that a transition study NJ is not an exhaustive investigation. Instead, it is an invasive investigation that may need to be backed up by destructive testing to be able to determine the extent both the visual and hidden defects on the property. It is also important to know that a transition study is an optional service that you can do in conjunction with a reserve study. Some of the things it documents include the list of possible defects, pictures of defects that are visually apparent, description of the defects and so on.  To help you understand what a transition study NJ is all about, visit my website today for more related articles.  What Does A Transition Study NJ Include? www.lockatong.com

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