Reserve Fund Study

Condominiums, strata corporations, and coproprietors across Canada use reserve fund studies to guide their plans for future funding. In Ontario, the Condominium Act states the reserve fund needs to be adequate and updated every three years. The minimum prescribed duration is 30-years; however, at McIntosh Perry we’ve realized that a 30-year time frame misses several long-lived expensive items. […]

Building condition assessments are carried out for a number of reasons associated with reserve funding, financing, repair maintenance safety, energy conservation, and accessibility by handicapped people. They can be broadly grouped into seven categories: Building condition assessment to identify future (reserve) funding requirements. Building condition assessment for due diligence, insurance, mortgage or vendor purposes. Evaluation […]

A recent article in the National Post outlined the need for condo corporations to update the Reserve Fund Study every three years. According to the The Condominium Act of Ontario, reserve fund studies must be completed every three years, and failure to do is a breach of the Act. As a current owner or potential […]