Lifetime Exteriors is an established Pacific Northwest multi-family and commercial construction contractor for the greater Portland, Oregon metro and Seattle-Bellevue surrounding areas. Decades of experience with complex construction projects have helped make the staff and our craftsman team one of the most experienced and knowledgeable exterior commercial grade contractors in the northwest. Lifetime Exteriors multi-family and commercial division services include repair or replacement for siding, windows, doors, roofing, decking and painting. Multi-family reconstruction projects are our specialty whether the property is newer with construction issues or an older property being remodeled. Lifetime Exteriors master craftsman status and certified training with our many manufacturers guarantees premium workmanship standards for the quality products we provide. We work on the following type of buildings and structures:
Multi-Family – Commercial Buildings – Mixed Use – Hotels – Motels – Apartments – Condominiums – Townhomes – Row Homes – Multi-Plex – Commercial Plaza Rehab – Senior Living Facilities – High Rise Buildings – Residential
Water Intrusion Repair Specialists • Property maintenance • Reconstruction services • Siding replacement and Siding repair • Windows replacement • Doors replacement • Roofing replacement and repair • Decking replacement and repair • Painting and weatherization • Construction Defect Repair/Litigation support • Insurance recovery • EIFS/Stucco replacement • Dry-rot/Mold remediation and repair • Forensic thermal Imagery reports and consulting • Scope/Engineered Document Creation-R.F.P • Destructive Testing • Restoration • Building Envelope Investigations • HOA Reserve Studies projected sustainability • Multi-Family HOA Financing
Our experienced and professional construction team is here to handle these services and help your property with:
- Water Intrusion, Damage, Dry-rot inspections
- Construction Claims and Litigation
- Building Maintenance Inspection
- Mixed-Use Building Inspection
- Insurance and Warranty Inspection
- Destructive Testing (D.T)
- First Party Insurance Claims and support
- Expert Witness Testimony
- Construction Defect Investigation and Analysis
- Thermal Imagery
- Property Conditions/Damage Assessment
- Building Envelope Inspections
- Design Build Details
- Structural Engineering
- Value Engineering
- Project Oversight
- Roof Inspection
- Water Leak Diagnosis
- Asbestos/Lead Paint Testing
- Hazardous Material Analysis
- Reserve Study Projections
As an Elite Preferred James HardiePlank siding installer (Hardie siding) for the Pacific Northwest and based in Portland, multi-family apartments siding repair, condominiums siding and waterproofing repair, and townhomes are our specialty. Many people and associations call James Hardie Plank hardy siding or hardy board as well just for clarification. Lifetime Exteriors also offers different preventative maintenance packages for long term protection of the buildings envelope, which can save property managers or owners thousands of dollars in repairs. Lifetime Exteriors integrates LEED certification with advances in green building materials, eco-friendly engineering, and production management with our multi-family and commercial projects. Lifetime Exteriors staff partners with the regions foremost experts on building codes, waterproofing and flashing methods, with architectural design for inspection compliance and sustainability. Lifetime Exteriors commercial division specializes in apartments, condominium structures, townhomes, apartment complexes, apartment buildings, and commercial buildings such as hotels, banking institutions, and even government buildings.
Lifetime Exteriors is proud of our comprehensive customer support system in place. We have a professional, friendly staff and craftsman team that represents respect and courtesy to our clients and their many tenants. We also provide reserve study analytics for future maintenance considerations and future projections and costs. Lifetime Exteriors is dedicated to ensuring our customers are not disturbed during the process, and we are truly sensitive to unique and challenging environments. Lifetime Exteriors builds relationships with architects, property managers, condo associations, owners, and on occasion committee design boards. Our experience of working with people from different backgrounds and expectations has helped prepare us over the years for our many difficult projects. We have developed special financing options for these large projects, as we know that financing an HOA or dealing with reconstruction loans can be extremely difficult and challenging to fund. Lifetime Exteriors also takes into account structural engineering, permits, and waterproofing consultants that are typically involved in these large scale projects.
Lifetime Exteriors is often called upon for capital improvements, rehab, construction defect repair and remediation from many insurance companies, property owners, investors, architects, attorneys, and real estate agents. We provide reports that can assist capital investors, property management groups, real estate agents, financial lending institutions, among others in determining if the purchase is fiscally smart and sound investment due to capital improvements, maintenance, and building envelope rehab and repair costs. Leaking windows and doors, wind driven rain, water intrusion, siding installed without a moisture barrier, high moisture content in the walls, dry rot evident, flashing omitted in critical detail areas, seals fogging up, discoloration to cladding, are all common telltale signs of more widespread issues and building flaws. Here in the Portland metro, and Seattle area, apartment buildings and HOA condominiums with vinyl siding issues are becoming more widespread due to vinyl siding fading, buckling, warping from vinyl windows, high winds coming off the wall, vinyl siding can also trap moisture and water behind the wall. Many of our capitol projects are replacing old and existing vinyl or cedar siding on apartments or condominiums or townhomes with new HardiePlank (Hardie siding) or other sustainable exterior cladding materials with water management systems.
Here in the Portland and surrounding areas, Lifetime Exteriors architectural services and expert team rebuilds communities due to existing dated and failing conditions, construction defects, water intrusion, or defective materials like the LP siding (Louisiana Pacific) or failing Masonite siding from the late 1980s, and 1990s, EIFS or DRYVIT synthetic stucco, to the defective CertainTeed Weatherboards fiber-cement siding lawsuit due to shrinking and buckling, causing extensive damages and product failure on properties typically constructed or resided from 2005-2013. Moisture issues have been documented to newer and older homes, multi-family buildings, condominiums, apartments, duplexes, townhomes, hotels, HOA communities and commercial buildings with even mixed use new build defects or new construction problems and builder disputes over faulty materials and improper waterproofing of the windows and doors.
Some of the larger local communities we provide our exterior envelope repair and replacement services for the state of Washington are: Auburn, Battle-Ground, Bellevue, Bellingham, Bremerton, Camas, Edmonds, Everett, Federal Way, Kelso, Kennewick, Kent, Kirkland, Lakewood, Longview, Lynwood, Ocean Park, Olympia, Puyallup, Redmond, Renton, Richland, Sammamish, Seattle, Shoreline, Spokane, Tacoma, Washougal, Vancouver, Yakima, and many other local areas as well as the coastal towns.
Financing Overview for Capitol and Multifamily Projects:
(Typically for HOA Condominium/Townhome Multifamily Owners)
Association Loan Overview
Association Loan Criteria
- The HOA is a non-profit and has the ability to borrow on behalf of the Association
- Governing Documents must allow Association to borrow and pledge assessments
- All voting and approval requirements included in the governing documents must be met
- Collateral is the Association’s ability and authority to assess and collect from the owners; all current and future assessments (income) are assigned as security
- Adhere to State Statutes for remediation construction
- Scope of Repair should be thorough; if repairs aren’t being made, funds must be placed in reserve account to ensure the property will remain stable during the life of the loan
There are multiple loan concepts for Associations. Outlined below is a typical association loan scenario:
Option 1 Example:
- Construction Line of Credit
- Term Loan
Construction Line of Credit, fixed rate, converts to term loan at project completion
Option 2 Example:
|Line of Credit
||To Be Determined- Based on Construction Budget
||Up to 12-months (renewable thereafter).
||Interest only, monthly payments with one final payment of all accrued interest and principal due at maturity, to be converted to Facility 2 below.
Note: there is no prepayment restriction on the construction line of credit and it may be converted to the term loan below at any time prior to expiry.
||Typically 4.25 – 4.75% – Fixed Rate during Construction
Term loan – Fully Amortized – 10 and 15-year terms available
||Outstanding balance of Facility 1 above upon conversion
||10-15 years fully amortizing
||Per month (principal & interest) for 120 – 180 months with an interest rate reset every 60-months
||Current Rate determined the month the line of credit converts to a term loan
No Personal Guaranty
- Owners are not required to “Opt in” to loan
- No Pre-payment penalties for owners or Association to pay off early
- Association loans often do not go full term
Payment Options for Owners
- No liens – buy and sell
- No individual credit scoring
- No personal assets
- Pay Monthly
- Pay lump sum and avoid interest charges
- Pay monthly and pay off remaining balance at later date
- Utilize home equity loan, savings, 401K, etc.
Sometimes homeowner’s associations need to borrow money in order for repairs or improvements of the common areas of their community. This process can be difficult and confusing. This article aims to untangle the confusion surrounding this valuable tool.
What is an HOA Loan?
Associations can require loans for a variety of reasons. The most common of those is for repairs.
Oftentimes, associations have not set aside monies for repairs. HOA loans can also be used for litigation purposes. Using legal services can be very expensive, and it is not uncommon for associations to pursue litigation against developers. These litigations can take extended periods of time, and it is sometimes necessary for the association to have additional funds to last them through the litigation process.
HOA or condo association loans are issued to the association as a non-profit corporation and not as a consumer loan. This loan or line of credit is usually secured by the association’s ability to assess. Banks will also reserve the right to assess the association should they become behind on their payments, although, they typically do not put liens on property or any other tangible assets. HOA associations pay monthly fees, and most banks require that if an association has a loan with them, all of their banking has to go through them. This is typically how HOA loans work; however, specifics do very from bank to bank. HOA loans vary from 3 to around 10 years, and depend upon the scope of repairs done and the amount of money borrowed.
Not all banks or institutions will lend to HOA associations. HOA loans are usually made by local banks or banks that specialize in HOA loans. Banks also look for particular criteria in order to qualify an association for a loan. Banks prefer associations with low delinquency rates, and low ratios of renters to owners. Associations with these qualifications are typically more secure. Loans that are less than 20% of the total value of the units are also preferred. Any higher than this and the risk becomes too great for the bank. Most banks also require reserve study done by a professional performed or updated in the last two years.
There are quite a few things that can prevent an HOA loan from going smoothly. The most common error made by HOA associations is that they do not get the bank involved soon enough. Banks have particular criteria that they require, and understanding the criteria of the bank early on will be more beneficial. This advanced notice will allow you to better prepare to meet their criteria. It is also important to secure the funds from the bank before you enter into a contract. If an association has an outdated or poorly performed reserve study, it may not be able to get approved. Reserve studies provide the bank with very accurate data about the useful life of the common elements of a community, as well as, what future repairs are on the horizon. Without a clear idea of where an association stands, a bank may not approve.
Defective Siding Alert-(Class Action Lawsuit)
CertainTeed Fiber-Cement Settlement
Lifetime Exteriors has replaced and repaired more defective CertainTeed fiber cement siding since we are building experts, and we specialize in replacing defective siding systems like LP siding, Synthetic Stucco siding, EIFS siding, DryVit siding, Omni Wood,
Masonite, Weyerhaeuser, Cladwood, among others, and now Portland CertainTeed fiber cement siding which was involved in a class action lawsuit recently. Here are some of the details of the settlement and lawsuit.
“VALLEY FORGE, Pa., Nov. 4, 2013 /PRNewswire/ — CertainTeed Corporation and Counsel for the Plaintiffs in In re: CertainTeed Fiber Cement Siding Litigation, MDL Docket No. 2270
(E.D. Pa), announced today that they have entered into an agreement to settle various class actions relating to fiber cement siding manufactured by CertainTeed Corporation and installed on or before September 30, 2013. Plaintiffs, who own properties with the siding, allege that the siding was defective. CertainTeed believes that its fiber cement siding has performed well over many years, but has agreed to the settlement to avoid the expense, inconvenience, and distraction of further protracted litigation and to fully resolve this matter.
The fiber cement siding included in the settlement is CertainTeed Weatherboards™ Fiber Cement Siding, Lap Siding, Vertical Siding, Shapes, Soffit, Porch Ceiling, and 7/16″ Trim installed before September 30, 2013. CertainTeed’s vinyl siding and polymer shake products are not involved in this litigation.
CertainTeed will pay $103.9 million to fund the settlement, which includes attorneys’ fees and costs. The settlement agreement provides a more substantial remedy than is available to property owners under CertainTeed’s limited warranty. The availability of the remedy under the settlement depends upon a number of factors such as (1) the extent of the Qualifying Damage; (2) the proportion of the wall with Qualifying Damage; (3) the size of the wall; (4) the length of time the siding has been installed; and (5) whether the Qualifying Damage was caused by a third party or as a result of improper installation or storage.
The settlement agreement must be approved by a judge — in this case, by United States District Court Judge Thomas P. O’Neill — after a hearing which we expect to take place on February 19, 2014 in Philadelphia, Pennsylvania.
People who own or owned buildings with CertainTeed Fiber Cement Siding and believe they may qualify for a remedy under this settlement can obtain additional information about the settlement by calling 1 (855) 332-3413, or by writing to: CertainTeed Claims Administrator, PO Box 2007, Chanhassen, MN 55317-2007.”
(SOURCE Analytics Consulting, LLC, Claims Administrator)
Lifetime Exteriors can also help assist in recommending attorneys, and building consultants with the CertainTeed lawsuit for Portland Or and Vancouver Wa owners.
Here are some signs to look for:
Huge gaps or spacing in the joints/seams
Corners of siding boards cracking
Dry-rot/Mushrooms to boards or on trim boards