Reserve Fund Studies - Alberta
Reserve Fund Study Specialists
The Reserve Fund Study assists the Condominium Corporation in determining the contributions to be made to the capital reserve fund in order to meet future repair and replacement expenses. A Reserve Fund Study is an important tool that should be utilized by Property Managers and the Board of Directors to maintain and enhance the major common property assets of the Condominium Corporation. The Reserve Fund Study provides a multi-year funding plan for major capital expenditures.
We use a Hybrid Funding Model, focusing on an adequate level of funding in projecting Reserve Fund requirements. Our Reserve Fund Studies help Condominium Corporations plan major capital projects and budgets over a 25-year horizon. The Reserve Fund Study recommendations assist in ensuring that the reserve fund remains adequate for current and future owners. This approach satisfies individual condominium unit owners in that their annual contributions are sufficient to meet the Condominium Corporations estimated expenditures, and that they are not over-contributing to an excessively funded reserve fund. The recommended minimum amount will vary by property; our Reserve Fund Studies are tailored to the individual Condominium Corporation.
In Alberta, the Condominium Property Act requires Condominium Corporations to complete a Reserve Fund Study every five years.
A copy of The Condominium Property Act can be found here and the Regulations here.
Our only interest, the provision of quality Reserve Fund Studies. We are not competitors in property management, building repair or maintenance contracts. Our functional Reserve Fund Studies are easy to read and understand, meeting or exceeding the legislative requirements of the Condominium Property Act.