The completion of an asset construction leads to the transition phase, where control, ownership, and responsibility are transferred from the developers to the community association. This is also the point where the parties make finishing settlements about building matters. To proceed with these activities, they need substantial information to support the decisions they will make. Conducting a transition study for a New Jersey property is necessary to address final concerns before the transition.
In a transition study, a reviews as-built plans and compares them with the actual structure. It involves an inspection of the present condition of each building system and the property as a whole. Safety and compliance with the Planned Real Estate Development Full Disclosure Act (PREDFDA) and New Jersey Condominium Act is another item checked during the inspections. If discrepancies or defects are discovered, the engineer will provide an outline of necessary repairs and an estimate of their costs.
The benefits of doing a transition study include securing the wellbeing of the inhabitants when they finally occupy the property. Additionally, it determines whether the developers did their part in ensuring that the property is well-built and according to the plans.
With its importance, the supervision of the NJ transition study should be made without mistakes. One of the most common errors is requesting for the inspection too late. The ideal timing of the examination is towards the completion of the construction. By this time, the developers are still responsible for any immediate issues, so the association avoids the extra costs from urgent repairs.
Another mistake to avoid is not coordinating stakeholders when doing a transition study. Every key figure in the project should be involved to prevent any disputes. Notifying the stakeholders also averts legal contentions, which can be very stressful and costly.
Learn more about transition study mistakes to avoid in an infographic from Lockatong Engineering.
