Condominium Association
Independent replacement cost evaluation for association insurance and board planning.
- ✓Common building components
- ✓Current reconstruction assumptions
- ✓Written methodology and value
T.A.P. INSPECTIONSTRUSTWORTHY • ACCURATE • PROFESSIONALCondominiums • Apartments • Associations
Insure the building for what rebuilding may require.
Independent building replacement cost evaluations for condominium associations, apartment properties, insurance planning, and responsible long-range budgeting.
Marco Island based Serving since 2014
Building Cost EvaluationTrustworthy • Accurate • Professional
THE RIGHT SCOPE
Built around the property—and the decision.
Replacement cost is not market value, tax value, or a guarantee of cost after a specific loss. The evaluation is based on stated assumptions and conditions when prepared.
Apartment Building
Building replacement cost analysis for owners, managers, and insurance planning.
- ✓Construction and finish quality
- ✓Fixed building components
- ✓Professional and demolition allowances
Updated Evaluation
A refreshed value after cost changes, renovations, additions, or an older prior report.
- ✓Current property information
- ✓Updated construction costs
- ✓Revised written evaluation
THE T.A.P. DIFFERENCE
Replacement cost is not purchase price, tax value, or market value.
The evaluation considers what it may take to reconstruct the building using current cost information, stated assumptions, and the actual property characteristics—not what the property might sell for.
Reconstruction-cost focusProperty-specific characteristicsDocumented assumptions
WHAT’S INCLUDED
A complete, property-focused evaluation.
Clear observations, supporting photographs, and useful context help turn technical property conditions into information you can act on.
01
Property Information
Building use, construction type, size, configuration, quality, age, and relevant characteristics.
02
Building Components
Consideration of major construction assemblies, finishes, fixed equipment, and site-related improvements.
03
Current Cost Data
Appropriate current construction-cost information and location-based cost considerations.
04
Professional Fees
Applicable allowances for design, permitting, professional services, and reconstruction expenses.
05
Demolition & Debris
Consideration of demolition, debris removal, and other costs associated with rebuilding.
06
Written Evaluation
A report summarizing property information, methodology, assumptions, and estimated replacement cost.
WHAT TO EXPECT
Simple process.
Useful answers.
From scheduling through delivery, the process stays focused on the property and the information you need.
- 01Collect records
Plans, prior reports, property data, and available construction information are reviewed.
- 02Evaluate the buildings
Relevant building characteristics, measurements, and components are documented.
- 03Prepare the evaluation
A written replacement cost report is developed for the association, owner, or requesting professional.
WHEN TO SCHEDULE
An outdated value can distort insurance and planning decisions.
Update the evaluation when the prior report is old, the buildings changed, or construction costs have materially shifted.
Discuss the property with T.A.P. →01Annual or periodic insurance review02Older replacement cost report03Major building renovation04Addition of amenities or structures05Significant construction-cost changes06Board or ownership planning
COMMON QUESTIONS
Clear expectations before the inspection.
Is replacement cost the same as market value?+
No. Market value includes land and market conditions. Replacement cost focuses on reconstructing the insured building improvements.
Why can replacement cost exceed the purchase price?+
Rebuilding after a major loss can include demolition, debris removal, permitting, professional fees, current labor and material costs, and other expenses not reflected in a sale price.
What records are helpful?+
Plans, surveys, prior evaluations, construction information, renovation records, and current property data can improve the evaluation process.
How often should the evaluation be updated?+
Update frequency depends on governing documents, insurance requirements, building changes, and construction-cost movement. Your insurance and legal professionals can advise on specific obligations.
MARCO ISLAND • NAPLES • FORT MYERS
Ready to schedule replacement cost evaluations?
Choose a convenient time online or call T.A.P. Inspections directly.