Apartment Complex Developers Key Terms

Learn more about apartment complex development

By Terri Deno

Apartment complex developers have multiple tasks to complete for each job they are hired to do. A single apartment complex project requires an apartment complex developer to deal with architectural, construction and business issues. Apartment developers must also have management skills in order to work with all of the people and groups associated with the build. Common concepts and key terms for building apartment complexes will come from all of these topics.

Cost modeling, cost estimation

Cost modeling, or cost estimation, refers to mathematical equations or algorithms that are used to estimate the total costs of a single project. The model is often used to gain financing and approval for the project. Cost estimations are also used to build budgets and business plans for a project.
Try: The Computer Support Group (CSG) provides information on cost estimation and an online calculator to help estimate the time and cost needed for a construction project.

Quality control

Quality control in construction is a safety measure used to inspect buildings during the construction process. Quality control is implemented by all project managers in order to avoid costly reconstruction later on.
Try: Chapter 13 of Project Management for Construction offers detailed information on quality control and how it's used to avoid major mistakes throughout the building process.

Contractor

A contractor is an individual or business hired to complete a single job during the project. Most apartment complex developers hire one contractor to oversee construction and a number of subcontractors for specialized jobs.
Try: WPM Construction is an apartment complex contractor that offers information on the most common services provided by contractors working on apartments.

Construction manager

A construction manager is different from a contractor in that the construction manager must deal with the schedule and budget rather than the building of the complex. A construction manager assists the developer by running the day-to-day operations at the construction site.
Try: The Construction Management Association of America offers a detailed description of the type of work a construction manager must complete when working on various projects.

Compliance

Compliance in apartment complex development refers to following and upholding the regulations, standards and local laws during construction. Each state will have its own building codes with which to comply.
Try: All state compliance offices, such as the Florida Department of Community Affairs, provide information on that state's building codes for residential and commercial properties.

Energy efficiency

Energy efficiency is the use of appliances and construction products that save on energy costs for the residents of the apartment complex. There is a variety of ways an apartment complex developer can make a project energy efficient for residents.
Try: Green Communities offers information and education for developers who want to use energy efficient products to provide a green community project for residents.