Cost to Remedy Fast-Track Course

Learn how to calculate repair estimates, form opinions of costs, and build cost tables. In two-half day virtual sessions, this fast-track teaches how to evaluate property conditions from a new perspective. It moves beyond identifying issues and focuses on determining whether work should be performed to keep the property operating effectively based on client objectives.

You will learn to distinguish repair from replacement, proactive maintenance from deferred maintenance, and to assess the remaining useful life of building systems. You will then apply this knowledge to develop cost to remedy tables. The course reviews practical methods to gather cost data and includes examples using cost estimating platforms and tools.

Students receive a certificate of completion along with a coursebook, cost calculator spreadsheet template, and cost to remedy report template.

How This Course Helps You

Those seeking to buy, lease, or optimize a property’s value and operations benefit from understanding the costs associated with immediate repairs and long-term expenses. This provides commercial property inspectors with the opportunity to turn their inspection report into an even greater capital planning tool. Using the items identified in an inspection report, this course provides step-by-step guidance to:

• Distinguish repairs, replacements, and maintenance items
• Use local and national data sources to calculate cost estimates
• Formulate opinions of costs and build cost to remedy tables
• Use a professional format for tables and present services as a value-add

Key Topics

• Cost calculator template application
• Cost to remedy report template usage
• Immediate repairs and replacements compared to long-term expenses
• Repair and replacement decisions based on observed conditions
• Differences between deferred maintenance and preventive maintenance
• Useful life and remaining useful life
• Capital planning terminology (CapEx, OpEx, reserve forecasts)
• Local and national cost data source options for inspectors
• Inflation rates, tax adjustments, risk factors, and other cost variables
• Marketing and selling cost to remedy services