A reserve fund study is a report that outlines the assets a condominium corporation owns, how much money the corporation has in savings, and expected future costs, such as for the maintenance and/or replacement of roofing, balconies, heating systems, and more. The report will also provide a timeline for the required maintenance. Reserve fund study reports are key documents that allow condo corporations to properly plan for the operations and maintenance of the condo in question.

A reserve fund study from Entuitive involves one of our experts visiting your condominium to perform a building condition assessment to understand the current state of the asset. This is followed by a look at the condo corporation’s financial statements to understand how much is currently in reserve. Together, this information provides the basis for the final report that highlights the state all assets are in and when they can be expected to be replaced and for what cost.

Typically, 10% of a condo’s operating budget should be allocated to the reserve fund.

Condominium corporations must provide the corporation’s financial statements as well as access to the condo building itself for site inspections.

All condo owners contribute to the reserve fund.

According to the Ontario Condominium Act, a reserve fund study should be completed every five years.

Entuitive’s engineers have decades of experience in the building, maintenance, and renewal of condominiums. Our experts work with condo boards across our markets to assist them in maintaining and repairing their condos to ensure these assets last a lifetime.