Capital Needs Assessments with a reserve study are a financial plan for a multifamily property. They address existing deferred maintenance and function to modernize, rehabilitate, and map out funding for future needs. We listen to our clients’ needs and work with them to develop a plan that ensures the long-term viability and success of each multifamily property.
Property Assessments for HUD, LIHTC, and Other Multifamily Projects
US Housing Consultants works with developers, managers, and owners of affordable housing properties nationwide on Capital Needs Assessments.
We create CNAs for:
• Annual budgets
• Funding applications
• Rehab Planning
• Handicapped accessibility issues
• Refreshing Unit Interiors (Cabinets, Appliances, etc.)
• E-Tool Submissions for HUD Properties
For HUD, Tax Credit, and USDA RD properties, we can put together reports with a fast
turnaround at a price that fits your budget.
What Exactly is a Capital Needs Assessment?
Simply put, a Capital Needs Assessment is a road map to understanding the life expectancy and replacement cost of major items on a given property. Our inspectors provide a detailed estimate of how much it will cost to maintain your property in the coming years.
Our CNA reports outlining urgent fixes and how to best budget for anticipated replacements. Our inspectors deliver reports on the building’s structure and other significant items, both interior and exterior. We note specific improvement requirements and the costs associated with meeting them. The CNA report also estimates the life cycle of various building systems and gives a year-by-year assessment of when each component may require replacement.
We create all of our Capital Needs Assessments using the ASTM E2108-15 standards. It is the industry standard for the property condition assessment process, the standard most widely accepted by most state agencies, as well as by HUD for 10-year updates. Most importantly, with this standard, we create an easy-to-read report for your information and reference. Because no matter how good a plan is, if it isn’t clearly communicated, it cannot be properly executed.
Capital Needs Assessments are a Critical Function of Property Ownership
Our CNA reports show you much more than a list of things to repair; they show you the future. Revenue at multifamily properties can be limited, so a property must prepare years in advance. With a plan for the years to come, a property risks being financially prepared.
When it comes to replacement reserves, we know that the owner is ultimately the best resource. So, we make sure that our reports are all created in collaboration with the owner and management agent to ensure that the replacement reserve report creates a realistic plan for the future.
