Reserve Fund Studies and Updates
Condominiums in Ontario are required to set up and maintain at least one reserve fund to be used solely for the purpose of major repairs and replacement of the common elements and assets of the corporation.
A reserve fund study is essentially a financial document that provides the basis for a reserve fund plan and the funding of major repairs and replacement of the component inventory and fixed assets of the condominium corporation or organization.
While we have our own engineering and building technologists, we use them for only about half of the reserve fund study work - the physical component inventory, quantifications, inspections and life cycle assessments.
The financial forecasting, analysis of construction cost and inflation indexes, interest rate trends, the property's reserve fund historical profile and several cash flow models are then developed by a Certified Reserve Planner and Professional Reserve Analyst.
We then review our recommendations with the client before presenting our final reserve fund study. Each of our reserve fund studies and updates for Ontario include a fully completed Form 15 - ready to go. We are generous with the colour photos in our reserve fund studies too!
We are dedicated to educating condominium boards and managers about the functional reserve fund studies that we do. They exceed the minimum requirements of the Condominium Act. our functional reserve fund studies balance the technical and financial elements, a balance truly needed for a superior reserve fund study. For more information, click on the links below.