PRACTICE AREAS

In order to provide exceptional services, we cover all aspects of the property life cycle. From inception to post completion, we have all your quantity surveying needs covered.

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Measurement & Cost Control

We use proven methods and techniques to accurately measure, reduce and control cost during the pre-contract and post contract stages of a project. We employ a strict cost control discipline to ensure the initial estimate, tender figure and final account are as close as possible.

Our pre-contract services include:

  • Order of cost estimate
  • Indicative cost estimate
  • Detailed estimates
  • Pre-tender estimates
  • Schedule and bills of quantities
  • Builders quantities
  • Trade packages
  • Cost control during design development
  • Value and risk management
  • Materials selection and buildability advice
  • Procurement and contract advice
  • Tender and construction programs
  • Tender review, assessment, and negotiation

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Audit Services

A full service is provided to banks and financial institutions to their individual requirements. This generally includes the provision of our initial report confirming project costs, approvals, insurances, program, a review of pre-sales contracts and projected cash flows. Our regular progress reports include our assessment of progress payments, on a cost to complete basis, monitoring of the project cash flow and payments to subcontractors.

 

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Bills of Quantities

The Bills of Quantities is an essential tool in providing cost control for your building project. It provides an equal basis for tendering, and tender analysis, and ensures variations and contract reductions are negotiated at correct values. The Bill’s further use in calculating values for progress payments ensures payments to builders are correct and overpayment does not occur.

Independent university research has proven the cost of providing Bills of Quantities is more than offset by the savings it achieves for the client.

Please contact us for a copy of this independent report

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Sinking Fund Budget Forecasts

A sinking fund is a reserve of money, set aside for strata schemes, to pay for future repairs and maintenance of common property items; for example, roofing, driveways and fencing. The sinking fund budget estimates the amount of expenditure for the financial year and anticipated expenditure over subsequent years. Legislative requirements of sinking funds are, generally, for the provision of ten-year expenditure forecasts.

Sinking fund forecasts have been mandatory for Body Corporate’s in Queensland since the implementation of the Queensland Body Corporate and Community Act 1997. Our forecasts ensure sufficient funds are raised to provide for anticipated expenditure on capital items in the current year and a reasonable proportion of anticipated expenditure in the following nine years. The body corporate estimates the levy amount based on apportionment of the sinking fund budget relative to unit entitlements of each lot. The actual levy amount is decided at the annual general meeting of the committee for the body corporate.

Other money paid into the sinking fund may include interest from investment of sinking fund monies, monies received under insurance policies for destruction of items of a major capital nature.

Our reports are concise and easy for the layperson to follow and understand. Our reports are prepared following a visit to the property and any immediate maintenance work required is identified within our report. Our reports are prepared in close consultation with the body corporate committees and body corporate managers.

Currently we have in excess of 900 sinking fund forecasts in our database representing buildings from duplex to multi-unit residential and commercial properties.

Contact Whittaker & Associates today to organise a Sinking Fund Forecast or to update your existing Sinking Fund Forecast.

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Replacement Cost Opinions – Reinsurance Valuations

Our replacement cost opinions for insurance purposes, provide the building owner or body corporate with a full assessment of the current costs of rebuilding. This includes and identifies separately provision for professional fees, cost escalation and demolition costs.

Our reports are prepared following a visit to the property, including an internal review of one of the allotments (units) to confirm a standard of internal fit out.

Currently we have in excess of 500 replacement cost opinions in our database representing buildings from single houses to multi-unit residential and commercial properties.

When accurately determining the replacement cost of any building, many issues need to be considered, including:

  1. The demolition and removal of debris and asbestos of the original structure, including all associated consultant fees;
  2. The cost of reconstructing a new building considering and revised or amended planning constraints and updated building codes;
  3. All consultants’ fees and preliminaries;
  4. Cost Escalations for time taken to complete assessment, design, tender evaluations, construction periods and new policy renewal dates.

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Retirement Village Services

CRF / MRF

We have significant experience in the provision of Maintenance Reserve Fund Forecasts and Capital Replacement Fund Forecasts for retirement villages, as required by the Retirement Villages Act 1999.

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Project Management

As Construction Project Managers, Whittaker & Associates are able to provide direction from inception to completion of a project.

  • Pre-construction co-ordination
  • Tendering and documentation
  • Tender analysis and recommendation
  • Head contract evaluation, formulation and administration
  • Assessing progress claims
  • Variation claims
  • Extension of time claims
  • Project control meetings
  • Construction programs
  • Budget tracking and cost reporting
  • Post contract administration
  • Risk analysis

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Tax Depreciation

Depreciation: Under income tax law you are allowed to claim deductions for expenses incurred in earning your assessable income. Some expenses, such as the cost of acquiring capital assets are not allowable. Capital assets are those that provide a benefit over a number of years – for example, in the case of investment properties, appliances, hot water services, light fittings, curtains and carpets.

The value of such assets gradually reduces over time as they approach the end of their effective lives. Assets that lose value in this way are said to depreciate. In recognition of this fact, the cost of capital assets used in producing assessable income can be written off over a period of time as a tax deduction.

Special building write off: Additionally you may deduct certain kinds of construction expenditure. In the case of residential rental properties, the deductions are generally spread over a period of 25 or 40 years.

Deductions based on construction expenditure apply to capital works such as building or an extension, eg adding a room or garage. Deductions are allowable only for the period the property is rented or is available for rent.

Reports: Our reports will provide you with appropriate values for both tax depreciation of plant and articles and for the special building write off. If required, we can provide a schedule indicating the annual amounts of deductions for the next ten years.

Developers: We are pleased to provide property developers with indicative schedules of tax deductions for their marketing purposes.

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