Annual Deferred Maintenance Inspections and Monitoring (DMI)
When our clients have properties with Yearly Maintenance requirements; such as may be found in a Property Condition Report, a third party inspection may be required to verify the work is being performed and is in compliance with code and/or industry standards. Partner will visit the site on predetermined schedule with the following objectives:
- Observe the work and establish its level of completion.
- Assess general conformance with the Bank’s understanding of the requirement.
- Assess the adequacy of material and quality workmanship.
- Verify conformance with the provisions of the loan agreement.
- Assess the conformance to the deferred maintenance schedule.
- Verify cost control measures and provide recommendations as appropriate.
- Report any additional repairs they may cause an increase to the reserve budget.