Episode 9: Unpacking depreciation reports and the importance of capital planning
About the Episode:
In this episode, Jason Dunn, Senior Project Engineer with RDH discusses the importance of a depreciation report as a planning tool for stratas.
Get the Guides:
3 Keys to Decision Making for Strata Councils
Maintenance Planner Checklist
8 Steps for Going out to Bid
About the Guest:
Jason Dunn
Senior Project Engineer, RDH
With over 10 years with our Existing Buildings team, Jason has risen to the role of Senior Project Manager and Principal. His leadership qualities help him manage a variety of technical staff.
Jason’s experience in the repair, renewal, and rehabilitation of existing buildings has allowed him to develop a strong understanding of the challenges that owners face when it comes to building maintenance.
Jason coordinates with building owners to provide a variety of services, including building enclosure condition assessments that require investigative field testing, coordination of drawings and specifications, preparation of working budgets, and bidding of the work to contractors. He also is involved in producing depreciation reports and communicating recommendations to a variety of building owner groups.
Jason holds positions on both the British Columbia and Ontario Building Envelope Councils.
About the Hosts
Brent Anderson
Business Development Director, FirstService Residential British Columbia
As Business Development Director, Brent is responsible for the continued growth and strategy of FirstService Residential’s Market throughout British Columbia.
Brent’s professional career in sales began selling souvenirs at Canucks games back at the PNE Coliseum. For the past 15 years, has been closely working with strata managers as a salesperson for various trades, including painting, high-rise window cleaning, and HVAC services.
The sales world is full of cookie-cutter reps who lead with their ego and put their needs ahead of the customers. Not Brent; he is passionate about the needs and goals of his clients and specializes in bringing them peace of mind.
Brent lives in South Surrey with his wife and their Jack Russell Terrier. He is an avid hiker and budding kayak enthusiast.
James Milne
Business Development Director, FirstService Residential British Columbia
As Business Development Director, James is responsible for the continued growth and strategy of FirstService Residential’s Market throughout British Columbia.
James takes a consultative approach to his role, recognizing that having the right fit between a community and its management is crucial to long-term success. Prior to joining FirstService, James worked in luxury hotel management and business-to-business sales.
James has more than 20 years of experience in customer-facing roles and a true passion for customer service. He is a licensed strata manager and has a degree in Business Management.
When not working, James is also an avid mountain biker and serves as the President of one of BC’s largest non-profit mountain bike clubs.
About Stratagize Podcast
Over 1.5 million people live in strata housing in the Province of British Columbia.
Let's face it, you'd rather watch reruns of the nightly news than read the Strata Property Act (And we can't blame you) Still, most people are at a loss when it comes to understanding such an important framework for how many of us live our lives in proximity with one another.
Stratagize with Brent Anderson & James Milne features conversations with industry leaders and experts who share their knowledge to demystify an industry that impacts the lives of more than 1 out of 3 British Columbians.
Whether you are a council member, owner, investor, or renter, if you're looking for content that will bring value to your strata and help you get to the next level… THIS is it!
Listen to our latest episode, subscribe and rate us on iTunes. 👊
🚨 STRATA TIP:
Ensure that you have homeowners insurance and that it is updated regularly, at least annually.
MAIN TAKEAWAYS:
- Insurance broker is essentially a professional shopper who goes to the insurance company to seek terms.
- Insurance companies make money two ways...Underwriting profit & Investment income. When one or both of those streams of revenue are down we see insurance companies change their position.
- Replacement value has direct impact on insurance premiums. If replacement value increases 10% then insurance premiums also have to increase 10%
- Replace rubber water supply lines with steel braided hoses
MYTH VS FACT
"Do insurance brokers pay referral fees to strata management companies?"
(MYTH) For BFL this has always been a myth. Legislation was put in place last year to prevent this situation from happening.
“Brokers provide insurance”
(Myth) Insurance brokers are professional shoppers that go to market and shop for best rates from insurance companies then provide the best pricing available.