ANNOUNCEMENT

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Rompin’ Ronnie

INTEGRAL BUILDING COST DATA INFORMATION BUREAU

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Thank you for your recent correspondence. We just want to bring you up to date as to the recent swing in operations here.

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We have updated, our approach to our Building/Structures Underwriting, Claims, and Capital Replacement Services as most of our valuations, examinations, and reviews can be done by the desk through obtaining accurate documentation through research, interviews, and site photography at a very reasonable fee. Our reports and fees are now customized to suite the individual clients need.

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BROKERS, UNDERWRITERS, ADJUSTERS, LAWYERS

All we need is the name of the client, their phone number, their email, the name of the building, its civic address. and the square footage. We can take it from there, we make contact, discuss the building, and send him a package advising him of our service and fee. We will copy you and provide a synopsis of the discussion. We respect you and that is your client. Email us at [email protected]

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The method above has been working very well with some of my brokers who refer their clients to this firm. We retain their clients as new clients and they, the brokers, retain them as clients. When a question comes up regarding the value, or a new product for their building, we seem to get the call and advise accordingly.

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Consequently, all our work comes to us on a referral basis. We do not advertise any longer and haven’t for years now. Our website has become redundant, through our new approach to business and therefore have decided to take it down because it needed updating and being rewritten. Just email us at [email protected] and we will respond bigger and better.

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THE STATS DON’T SEEM TO CHANGE

A significant loss to a building will occur every 5 years whether the loss is sudden and accidental or wear and tear. As general insurance statistics indicate year after year, one out of three buildings will suffer a loss directly or indirectly within the next three years. ?

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Most insured building losses result in the following:

·??????64% of all HOMEOWNER policies are undervalued by at least 27% to be adequately protected.

·??????75% of all COMMERCIAL BUILDINGS are undervalued by at least 40% to be adequately protected.

·??????80% of all CONTENTS, FIXTURES, & EQUIPMENT are undervalued by at least 60% to be adequately protected.

·??????60% of all POLICYHOLDERS are not covered adequately. Although insured to value. they have inadequate and/or incorrect coverages typically due to exposures being unidentified.

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We know why the above statistics do not change year after year. Most insurers require a building owner to insure to Replacement Cost Value, New (RCV) of like, kind and quality on the same site. The issue is that RCV does not go far enough. There are other costs associated with repairing or replacing the building that are not taken into consideration with the RCV evaluation and often these costs are restricted in sub limits.

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These requirements are:

·??????Building code upgrades since the building was built or updated.

·??????Municipal bylaws in place to protect the building or occupants.

·??????Green technology changes to building materials for better waste management and recycling.

·??????Climate change requirements to the construction of the building as loss prevention.

·??????Emergency Service expenses should a loss occur to a building.

·??????Building stability requirements and costs after a loss occurs.

·??????Building security costs after a loss occurs, to protect the property and prevent bodily injury.

·??????Abatement costs associated with the removal of asbestos, lead, mold, or other hazardous materials found in the building after a loss occurs.

·??????Deconstruction of the building of components and materials not affected by the loss in order to salvage these materials to satisfy municipal recycling requirements.

·??????Demolition of the damaged portion of the building and/or the undamaged portion as required.

·??????Rubble removal of debris because of the loss and required demolition.

·??????Catastrophic costs associated with a national disaster.

Email us at [email protected]

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Rompin’ Ronnie

CAO.

Let me introduce you to our latest member of our team Rompin’ Ronnie, Chief Avatar Officer. You will see him around a lot, sticking his nose in everything with his silly grin and wink of an eye. His job is to see that nothing goes astray, all is looked after in a timely manner, and you & our client are happy. Email us at [email protected] Put us in your electronic rolodex.

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CAPITAL REPLACEMENT PLANNING

We have expanded our Depreciation Reports to 3 types effective immediately. They are;

1.????BASIC DEPRECIATION REPORT This report is your basic Depreciation Report that can be found in the Strata Act. It addresses the assets only over the next 30 years, and does not include any maintenance, loss prevention, professional services, etc. as they would have to be included in the operating budget as determined by the strata council. The assets in this format are assets that need repairs or replacement during the 30 year window. It does not take other assets that are deferred into consideration. This is a defensive approach to Capital Replacement Planning

2.????STANDARD DEPRECIATION REPORT This is our most common report, which is the same as above, only it does include maintenance, loss prevention, and professional services only. It does not include other expenses associated with the assets. This is also a defensive approach to Capital Replacement Planning but does suggest that the strata council is working to get into an offensive position.

3.????COMPREHENSIVE DEPRECIATION REPORT This report which is becoming more popular addresses all expense factors such as assets, maintenance, loss prevention, professional services, other expenses, etc. but over the expected service life of the complex itself as a whole. It is an aggressive, offensives approach to Capital Replacement Planning

The object of Capital Replacement Planning is to eliminate the Special Assessments that most strata’s require today to meet their obligations for capital replacement. ?Email us at [email protected]

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We now have two bureaus formulated into our reports that specialize in providing detailed information for data and value. They are

SWIFT PROPERTY DATA RESEARCH SERVICE

MARSHALL VALUATION SERVICE

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Rompin’ Ronnie

INTEGRAL BUILDING COST DATA INFORMATION BUREAU