Transition Studies: More Pros than Cons
When community associations assume ownership of their buildings, the process is essentially no different than an individual purchasing a car or home, or making a substantial investment in the stock market.? Performing due diligence is always good practice to ensure you are getting what you paid for. Although individual unit owners may have performed some due diligence through home inspections, the ownership “transition” period is the most opportune time for community associations to assess the condition of their common elements. Such assessments, commonly known as transition studies, should be performed by experienced engineering professionals that have the expertise to identify potential deficiencies that may require future attention. Read the article………….