Reserve fund studies for Ottawa condominiums
A reserve fund study tells the board what the building's common elements need over the coming decades and how much the corporation should be setting aside to pay for it. Ours are written so that owners can follow them, not just engineers.
What you receive
- A site review of the common elements, with photos and observations
- The condition and expected remaining life of each major component
- Replacement and repair cost estimates
- A long-term funding projection with contribution recommendations
- A report written in plain language, with the priorities clearly marked
When to call us
- Your corporation's next study is coming due
- The last study is out of date or no longer matches what you see in the building
- Special assessments or fee increases are being discussed and the board wants a firm basis for them
- A new board or property manager wants an independent view of the building's condition
Preparing for a study
The more of these you can send, the faster we can quote: the previous reserve fund study, drawings if available, recent repair and maintenance records, and the current reserve fund balance and contribution. The condo board checklist lists what to ask any engineer before you hire.