Monitoring

Monitoring of real estate developments is a service requested by financing banks for the verification and confirmation of works carried out by contractors. It may also be required for confirming drawdown requests under the approved loan. Monitoring reports confirm the consistency between construction cost statements and contractors’ invoices for works already performed.

Bank approvals for drawdowns are usually granted based on monitoring reports prepared by expert valuers. Activ Property Services provides this service through ANEVAR valuers.

The service is typically requested by financing banks and contracted directly by developers under their financing commitments. Most banks outsource this service to experienced companies that hold professional liability insurance and employ ANEVAR members or project management specialists.

Monitoring services generally range between RON 4,450 + VAT and RON 6,450 + VAT per report, usually on a quarterly basis, and include at least one site inspection.