Construction loan monitoring is an independent verification process where a qualified third party (typically a Quantity Surveyor) conducts regular site inspections and reviews draw requests to confirm that claimed construction progress is accurate before funds are disbursed. It protects lender capital by eliminating the information asymmetry inherent in construction lending.

A Quantity Surveyor (QS) manages all financial aspects of a construction project, from initial cost estimates through to final account reconciliation. This includes pre-construction budgeting, quantity take-offs, tender analysis, cost control during construction, change order assessment, and value engineering. A QS is engaged throughout the entire project lifecycle, providing continuous cost management and independent verification.

Lenders require independent monitoring because construction lending carries unique risks. Without third-party verification, lenders rely on borrower-reported progress, which creates a conflict of interest. Independent monitoring verifies that construction progress matches draw requests, identifies budget variances early, and provides objective reporting that supports confident disbursement decisions.

Monitoring fees vary based on project size, complexity, location, and the frequency of inspections required. We tailor our scope and fee proposals to each project. Contact us to discuss your specific requirements and we will provide a clear proposal.

A Quantity Surveyor provides continuous cost management throughout the entire project lifecycle. This includes pre-construction budgeting, cost control, change order assessment, value engineering, tender analysis, and ongoing cost reporting. The scope is tailored to each project and can cover hard costs, soft costs, financing costs, marketing budgets, insurance, and contingencies.

Quantus CMI maintains active relationships with lending teams at Schedule I banks, credit unions, trust companies, and private lenders across Canada. We provide warm introductions to the right capital sources for your specific project, help package your project in the format lenders expect, and can provide the independent monitoring that lenders require.

We work across all building types including multiplex developments (2-6 units), purpose-built rentals, mixed-use projects, industrial facilities (including warehouse and distribution), commercial buildings, and single-family custom homes. Our experience spans residential, commercial, industrial, and institutional sectors.

CIQS stands for the Canadian Institute of Quantity Surveyors. It is the professional body that sets standards for quantity surveying practice in Canada. CIQS membership requires demonstrated competency in construction cost management and adherence to professional standards. When engaging a QS, CIQS membership is an indicator of professional qualification.

Typically, construction sites are inspected monthly. However, the frequency can be adjusted based on project complexity, lender requirements, and construction phase. During critical phases (foundation, structure, building envelope), more frequent inspections may be warranted.

Quantus CMI is based in Vancouver, BC and serves clients across Canada. Our primary market is British Columbia, with significant experience in Metro Vancouver, the Fraser Valley, Vancouver Island, and the BC Interior. We also serve clients in Alberta, Ontario, and other provinces.