Stock Condition Surveys
Are you a housing provider looking to effectively plan ahead and budget for your future portfolio investment needs? Eager to adopt a proactive rather than reactive approach to issues so you can address the likes of health and safety concerns before they escalate? Stock Condition Surveys are the answer.
Planning and forecasting expenditure on the maintenance of a building is vital for any property owner. But for social housing providers, the difference is that the building is more than just bricks and mortar: these are people’s homes.
A more considered approach to housing Stock Condition Surveys is therefore essential, with a need for residents’ welfare to remain at the centre of all decision making. Knowledge of how to minimise disruption whilst effecting timely vital works within budget is also crucial, as is the ability to collate data that is robust and comprehensive enough to make sound investment and planning decisions.
Faithorn Farrell Timms has over two decades’ experience in providing comprehensive Stock Condition Surveys within the social housing, education and leisure sectors, currently delivering over 20,000 reports every year.
Housing Stock Condition Surveys – What’s the FFT difference?
Over 20 years, FFT has built a reputation as one of the UK’s leading providers of Stock Condition Surveys to the social housing sector. With increasing regulatory scrutiny and a need for high-quality, professionally collected and validated property asset data, FFT’s dedicated Stock Condition Survey team can be relied upon to deliver exactly what housing associations and local authorities need to make sound investment and business planning decisions.
Our ‘bigger picture’ approach, and knowledge of how better-informed decision making influences outcomes for residents, helps us enhance the support we’re able to give our clients throughout the entire housing stock surveying process.
Working collaboratively with our clients, we ensure the data we produce for them is compatible with the various asset management systems used sector wide, so that everything is perfectly streamlined.
Our experience is extensive, as is our capacity. Delivering more than 20,000 Stock Condition Surveys annually, our team has developed expertise across a wide mix of property types and locations across the UK and Ireland. Individual commissions range from less than 100 dwellings, to over 10,000.
Whilst our core work lies within social housing, we regularly deliver Stock Condition Surveys across non-housing sectors, such as schools, universities and theatres.
A fully managed service, for client – and resident – peace of mind
At FFT, our Stock Condition Survey services are fully managed by specialist Survey Managers. Each commission is personally overseen by an Equity Partner for the utmost reassurance of quality and accuracy.
Every inspection is allocated to a trained and security-vetted surveyor, with post-inspection validation checks completed by the Survey Manager.
A friendly, helpful ‘human’ resident interface comes courtesy of our in-house survey administration team, each member of which has specific experience in dealing with resident needs. They take responsibility for making arrangements for access, as well as providing essential support, reassurance and safeguarding.
Project progress is managed on a daily basis, with clients receiving regular reports, and communication channels continuously open.
Stock Condition Surveys – Related Services
At FFT, our SCS team routinely collaborates with our Strategic Asset Management consultants, allowing us to deliver highly detailed and strategically valuable all-round services to our clients, including:
- Strategic property and estate Options Appraisals
- Stock Rationalisation, Acquisition and Disposal Agency
- Energy efficiency and decarbonisation studies
- Performance viability assessment and modelling
- Planned maintenance programme development
Frequently Asked Questions – What is a Stock Condition Survey?
A Stock Condition Survey (SCS) is an assessment of the condition, performance and future investment needs associated with a property or property portfolio.
An SCS records the essential characteristics of a building in a way that allows meaningful comparative analysis across the portfolio, from entire stock to individual properties.
The survey provides a comprehensive, structured set of data which documents the construction and services elements and components of a building. The process involves assessing the age, condition and remaining lifespan of each component, from which future works and their associated costs can be predicted.
For property portfolios, the results are combined to produce a dataset that covers the entire stock. The resulting ‘big data’ set is expertly validated and processed to produce summary analytical reports, including performance ratings and financial forecasts.
During a Stock Condition Survey, additional assessments can be carried out to enhance the value of the process. These may include Energy Performance Certificates (EPCs), Retrofit Assessments (RAs), and measured surveys.
Who benefits from a Stock Condition Survey?
Whilst the majority of demand for an SCS comes from social housing providers, numerous other sectors and building types can benefit from these surveys. These include office blocks, industrial premises, educational campuses and leisure facilities.
Basically, any building owner with a need to forecast future maintenance and repair investment will benefit from an SCS. Being aware of the condition of your property assets and knowing where you may need to allocate funds in the future puts you in an advantageous position, where unexpected, costly surprises become a thing of the past.
What is the difference between a regular building survey and a Stock Condition Survey?
Unlike traditional, ‘single entity’ building surveys, a Stock Condition Survey is delivered on scale and carried out in such a way that allows meaningful comparison across multiple properties. It also allows for analysis of data from strategic to granular levels.
An SCS may be undertaken in phases, covering an entire portfolio, or a representative sample. Results can be used for various purposes, including performance and quality assessment, investment planning, compliance and regulatory fulfilment and options appraisals.
What does a Stock Condition Survey involve?
The surveyor conducting the SCS will undertake a visual check of the condition of the main components, both inside and outside the property. These may include:
- Roof coverings
- Wall finishes
- Fences and boundaries
- Heating system
- Electrical system
- Insulation levels
The survey provides an estimate of the age, condition and life expectancy of the components, with the information allowing clients to establish their financial liabilities for up to 30 years.