Prendos Due Diligence Reports

Avoid nasty surprises when it comes to building services

Due diligence reports for Prendos

Prendos help property owners and buyers maximise the value of their property. They do technical due diligence to identify any major issues, advise on the cost of remediation and refits, and help building owners manage their investments. A big part of the picture is building services, and that’s where we come in.

Prendos South Island Regional Manager, and Chartered Building Surveyor Rory Crosbie has worked with Honoris for several years. He explains why he brings us in to help the Prendos team.

"Getting services specialists in to help with due diligence also helps us manage risk for our clients and for ourselves."

“We’re building surveyors, so we look at the fabric of the building. And Steve and his team are the building services experts. Services are usually the expensive bit of a building. If they go wrong, it costs you lots. So, when our clients are acquiring a building they need that expert services advice to make sure they’re getting value for money.”

“Getting services specialists in to help with due diligence also helps us manage risk for our clients and for ourselves. We’re definitely not experts on how electrical and mechanical systems work. So, if I were to take a look at a bit of kit and say, ‘Yeah, it looks okay,” there's a lot of risk because I have no idea about building services. And our client could be out of pocket by a half million dollars for unexpected repairs.”

“It's very important we bring experts like Honoris into manage potential risk. I met Steve and the Honoris team through a referral from a former colleague. And I’d been familiar with Steve’s work through his involvement with the Property Council. So, I’d no hesitation getting Honoris onboard. Our clients need their expertise.”

Managing the running costs of building services over time

If you own or manage property you also need a plan to manage and maintain your building services, because even the best quality systems need work over time.

We can help with that too. Rory says, “I’ve also worked with Honoris to put together a plan for managing student halls of residence at the University of Canterbury. The University wanted to put together a plan to maintain the building over the next 20 years. So, we asked Honoris to help us assess the existing condition of the building services and predict what needs to be done going forward.”

“The student residences are run as a charitable trust, so it’s important for the University to understand what they need to spend to maintain the building. In addition to that, the running costs of buildings are increasing dramatically, so they’re looking at anything they can do to mitigate that. And there's a big conversation about climate change. So, the University are looking to Honoris and us to put forward energy efficient proposals and options.”

“Honoris are very good at explaining complicated technical things without using technical jargon. Their reports are easy to read. Steve especially explains issues really clearly. He’s great at speaking with our clients and that made a big difference to the University project. We work as a team, and I know I can trust Honoris to represent us well. I’m not going into meetings worrying about what they might say.”

How your due diligence project will proceed

Rory explains how Prendos work with Honoris on due diligence reports. “Honoris subcontract to us, so the first thing I do is get the scope well defined, so everybody knows what we’re reporting on. It's all about communication because each project is a bit different.”

“It’s best if we can start by spending time with someone who really knows the building, extracting all the information out of their head. That helps set the survey up for success because we know exactly what we’re looking for. That approach went well recently when we worked with Honoris on a due diligence report for Hellers.”

“Often we have a very tight turnaround on these jobs, so Steve and his team will get on site straight away and start assessing the condition of the building services, identifying anything likely to fail, and looking at the cost to repair or replace. We get good service from Honoris, and it helps that they’re a tight team, so they’re really responsive.”

‘It's important to touch base throughout the survey. So, we catch up with the Honoris team to exchange notes. We might have seen something important, or they might have noticed things we need to know. So even though we're focusing on our own disciplines, Prendos on the fabric of the building, Honoris on the building services, that cross team communication is key.”

“Strong communication is one of the reasons why working with Honoris is so good. As a team, they're good at communicating things we might need to take account of. And they’re reliable. They turn up on site when they say they will, they meet all their deadlines, and get their reports in on time. And their understanding of the costs to maintain, repair, and replace buildings services is really valuable, because it’s a bit of a dark art.”

Engage us to do a due diligence report for your building

Building services are complex and expensive. And as Rory explains, they’re also a specialist area of expertise. It’s too easy for building surveyors who don’t understand building services to underestimate your building service costs. Next thing you know, you’re staring down the barrel of a large, unexpected bill.

So, if you’re buying or renovating a building, avoid any nasty surprises and get a building services due diligence report. If you’d like to book a review of the services in your building get in touch. We’re here to help.