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You are here: Home / Archives for Capital Improvements

By Reuben Walker

The critical role of construction in property management

Image of David Seip of CAM Contracting during commercial build-out for PIne Castle Christian Academy in Orlando, FL.

Construction is more important than you think

If you own a commercial building or complex, you are either managing it yourself or have a property manager. So you know there are many responsibilities and tasks associated with managing your property. But you may have never thought about the role of construction in property management. This post takes a look and gets you up to speed on what you need to know about this important aspect of the job.

Definition of property management

According to Wikipedia, it is:

“the operation, control, and oversight of real estate as used in its most broad terms. Management indicates a need to be cared for, monitored and be held accountable for its useful life and condition.

Property management involves the processes, systems and manpower required to manage the life cycle of all acquired property as defined above including acquisition, control, accountability, responsibility, maintenance, utilization, and disposition.”

How does construction fit into property management?

Construction has several roles to play.

Repairs

Repairs are mostly self-evident. They involve fixing things that are broken through misuse. A window broken by a baseball is a good example. Simple repairs may be carried out by an onsite employee. But more extensive ones may be handled by a third-party. Say if someone drives a car through your front entrance.

Maintenance

Many times an onsite employee will provide maintenance. But it can be more efficient and less costly to contract it out in other circumstances.

Routine maintenance involves the day to day upkeep of your property to keep it functional. Replacing loose fasteners on railings, fencing, steps, or deck planks are examples. Recaulking older windows is another.

Preventive maintenance is a proactive service to avoid unnecessary repairs. Regular inspections and service prolong the useful life of your assets. It is also an important part of maintaining the safety of your property.

Capital Improvements

Capital improvements are a different thing altogether. They are almost always carried out by a third-party. According to Investopedia they are:

“the addition of a permanent structural improvement or the restoration of some aspect of a property that will either enhance the property’s overall value or increases its useful life. Although the scale of the capital improvement can vary, capital improvements can be made by both individual homeowners and large-scale property owners.”

They also have very different tax implications.

The components of your property eventually wear out and have to be replaced. Replacement is necessary even if they have been properly maintained. Technology also changes and requires upgrading or installation of new systems and components. New regulations from government also require additions to or adaptations of your property and its constituent parts. You might even have to carry out upgrades just to stay competitive.

Replacing old windows with new energy-conserving ones is an example of a capital improvement.

[Read more…]

Filed Under: Construction Management Tagged With: Capital Improvements, Maintenance, Property management, Repairs

By Reuben Walker

Capital Improvements vs repairs. What’s the difference?

Image of capital improvement at Old Town Theme Park by CAM Contracting

Construction’s impact on your property’s functionality is the key

If you own a commercial property that has been productive for some years, you will need maintenance construction from time to time. The work could be considered a repair or a capital improvement.

But what is the difference between the two? It has to do with functionality, tax categories, and planning. Let’s start with some definitions.

What are the definitions?

According to Investopedia Capital Improvement is:

“the addition of a permanent structural improvement or the restoration of some aspect of a property that will either enhance the property’s overall value or increases its useful life. Although the scale of the capital improvement can vary, capital improvements can be made by both individual homeowners and large-scale property owners.”

To repair is to fix or mend something suffering from damage or a fault.

According to Wikipedia A Capital Improvement Plan (Program), or CIP is

“a short-range plan, usually four to ten years. It identifies capital projects and equipment purchases, provides a planning schedule and identifies options for financing the plan.”

They are often used for government projects but work well for commercial ones as well.

What’s the difference in the IRS’s eyes?

There is a difference between repairs and capital improvements as regards your tax filing. Consult your tax accountant for how this impacts you. This post is not advice, just a synopsis.  [Read more…]

Filed Under: Commercial Building Remodeling Tagged With: Capital Improvements, Repairs

By Reuben Walker

Old Town Theme Park gets a makeover

Image of Old Town Theme Park Sign

Project Profile: Old Town Theme Park building remodeling –

While it was a long-time and popular hotspot for visitors to Central Florida, Old Town had started to look a little rough around the edges. It looked old and not in a good way. That’s when CAM Contracting came to the rescue with a capital improvement to the existing 12-acre site of stores, attractions, and restaurants. The complex’s many buildings need extensive repairs, renovations, and remodeling.

[Read more…]

Filed Under: Commercial Building Remodeling, Construction Management, Project Profile Tagged With: Capital Improvements, Old Town Theme Park

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provided us with high quality workmanship

David Seip, and his company, has provided excellent service to us and our facility at Regal Marine Industries, a privately...

Dean Eaton Plant/ Facilities Manager

CAM Contracting
5
2014-12-14T23:39:15-05:00

Dean Eaton Plant/ Facilities Manager

David Seip, and his company, has provided excellent service to us and our facility at Regal Marine Industries, a privately held luxury performance boat company located on an 88 acre campus in South Orlando. With his extraordinary leadership qualities, he has provided us with high quality workmanship on our buildings, drop ceilings, roofing, concrete work, landscaping, painting, and electrical to name just a few. David Seip is a hard-working self-starter who invariably understands exactly what a project is all about, from the outset, and how to get it done quickly and effectively. During the past four years that he has done work for us, he has often brought projects in on budget, and a few were even completed ahead of schedule. In closing, as detailed above, based on my experience working with him, I can unreservedly recommend CAM Contracting and David Seip to meet your needs and expectations.
http://camcontracting.com/testimonials/70/

I have always appreciated his attention to detail

It is with great pleasure I am able to recommend CAM Contracting and its President, David Seip. I have had...

James Dawson, President
Colorcrete of Central Florida, Inc.

CAM Contracting
5
2014-12-14T23:41:58-05:00

James Dawson, President
Colorcrete of Central Florida, Inc.

It is with great pleasure I am able to recommend CAM Contracting and its President, David Seip. I have had the privilege to use CAM contracting on many different projects over the past five years. All the projects have been completed satisfactorily and with excellence. CAM has completed small size projects (install a new exterior doors or windows), medium size jobs (replace drywall in a home) and large commercial projects (tear down and replace the framing and concrete floors of 3-story stair towers on multiple apartment buildings) involving many subcontractors and a multi-month critical path plan. Each time I engaged Mr. Seip and CAM, they were focused on finishing the project with excellence and timeliness. Mr. Seip has always been personally involved in each project to make sure that subcontractors were completing their portion accurately. I have always appreciated his attention to detail and excellent communication of progress or issues. As a Christian business leader, it is obvious to me that Mr. Seip lives his faith daily and holds himself and his company to the highest moral standards and business practices. We will be turning to CAM Contracting in the future for any of general contracting needs. Thank you for the opportunity to share my experiences with you. With Respect,
http://camcontracting.com/testimonials/always-appreciated-attention-detail/

He and his crew go the extra mile

We have called on David Seip and his business to complete a 2nd job in our home. David is honest,...

Nancy Nieman Jones

CAM Contracting
5
2014-12-14T23:43:06-05:00

Nancy Nieman Jones

We have called on David Seip and his business to complete a 2nd job in our home. David is honest, professional, and does excellent work. He and his crew go the extra mile to make the project perfect and to make sure that I am satisfied. He listens and gets it right the first time.
http://camcontracting.com/testimonials/crew-go-extra-mile/

completed the job a day early, and cleaned up thoroughly

CAM Contracting gave us 100% satisfaction and more! They bid on target, arrived when they said they would, completed the...

Gale Young

CAM Contracting
5
2014-12-14T23:44:11-05:00

Gale Young

CAM Contracting gave us 100% satisfaction and more! They bid on target, arrived when they said they would, completed the job a day early, and cleaned up thoroughly (even a mess on the side that we had left). The "and more" was Dave Seip going to 5 different places to secure a hard-to-find item because of the age of our home. What we made a fiasco, they turned into a job VERY well done. Thanks CAM!
http://camcontracting.com/testimonials/completed-job-day-early-cleaned-thoroughly/

I have recommended CAM Contracting to my clients

I am an architect and developer in the Central Florida area and have worked with CAM Contracting on multiple projects...

Dale Parsons, Architect

CAM Contracting
5
2014-12-14T23:02:06-05:00

Dale Parsons, Architect

I am an architect and developer in the Central Florida area and have worked with CAM Contracting on multiple projects in the past.   I have found them to be dependable and cost effective. I have recommended CAM Contracting to my clients in the past and will continue to do so in the future. Sincerely,
http://camcontracting.com/testimonials/recommended-cam-contracting-clients/
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