East Durham Homes – Stock Condition Validation and Build Cost Model
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In January 2008, we were appointed by East Durham Homes (EDH) to review their stock condition information, which consists of approximately 9,000 homes in the District of Easington.
The project contained three main elements:
- Undertake a 10% sample survey of the properties, to validate the accuracy of the data captured
- Carry out a full review of East Durham Homes’ asset management database
- Scrutinise the Schedule of Rates utilised in the financial projections, made for the build cost model for stock reinvestment works
Through collaborative working with our client and the co-operation of the residents, we experienced excellent rates of access for our validation surveys and returned a sample equating to almost 16% of the previously surveyed properties.
A comprehensive review of the Schedule of Rates was undertaken by our Quantity Surveyors, and the client was provided with updated prices based on average works costs on recent East Durham Homes contracts and market comparisons.
With our expert knowledge of databases, we were able to conduct a full validation of the asset management system using in-house resources; and considered the data structure, analysis for Decent Home Standard compliance and reporting functions to create the underlying base for their strategy to meet the Standard.
The project was delivered within the time and cost parameters set by our client. We are currently assisting them with strategic reviews, to further enhance the effectiveness of their policies and procedures.