Stage 4
Project Oversight
The job done to scope, from the pay applications to the punch list. Your owner's representative on the project.
Once the contract is signed, TruPoint stays on the job as the board's owner's representative: site visits on a stated schedule, invoices and change orders checked against the contract, pay applications reviewed before anything is paid, status and financial reporting, homeowners kept informed, and closeout.
50 percent of the project fee. The fee is 4 percent of the construction contract, quoted in dollars before bids go out. $3,000 minimum.
What the board gets
- Site visits on a schedule the board sees in writing.
- Every invoice and change order checked against the contract and the scope before anything is paid.
- Pay applications reviewed and recommended, or sent back.
- Status and financial reports the board can read at the meeting.
- Homeowners informed on schedule and access, so the manager's phone rings less.
- Closeout: the punch list, the warranties, and the file.
Who it is for
- Boards with a big project and nobody on the board who has run one.
- Boards that want the contractor answering to someone who knows the trade.
- Managers who want the project lift carried while they keep the relationship.
The fee, in dollars
| Contract | Project fee |
|---|---|
| $100,000 | $4,000 |
| $150,000 | $6,000 |
| $300,000 | $12,000 |
| $500,000 | $20,000 |
| $1 million | $40,000 |
| $2 million | $80,000 |
| $5 million and up | Negotiable |
4 percent of the construction contract, quoted in dollars before bids go out. $3,000 minimum. If the awarded contract moves more than 15 percent from the estimate, the fee moves with it. Four percent up to $5 million; $5 million and up is negotiable. Scope is 25 percent of the fee, the bid 25 percent, oversight 50 percent, bought together or one at a time.
Put us on your next agenda for fifteen minutes.
Send the reserve study and the hot button items, the two or three things keeping the board up at night. We read them before the meeting, present what fits in the room, and follow up in writing based on the board's needs and real actionable solutions. The review is free.