Your condo reserve fund sets aside money for non-routine repairs and replacements. However, if your board isn’t careful, you can make critical errors that make it impossible to cover these necessary capital expenditures. As a result, your residents face the risk of special assessments.  Here we look at what is considered a healthy reserve fund…

With more and more Toronto condo towers reaching over 40 storeys, condo boards need to understand the challenges high-rises present for reserve fund planning. The taller the building, the more challenging upkeep becomes, especially when considering exterior renovations. Here we look at the reserve fund planning challenges for high-rises and the costs of “working at…

A good reserve fund study is one of the best financial predictive tools at your disposal. However, if you take the time to master reserve fund study management it can also help secure the success of your condo board’s performance. Participate in the Process of Reserve Fund Study The best way to master reserve fund…

Reserve Fund Studies provide important guidance for your board’s financing and maintenance plans. As such, you want to know your reserve fund study provider gives you as many insights as possible. Here we offer tips to help you find the best reserve fund study provider for the job. When Reserve Fund Study Providers Consider Inflation…

You would think regular reserve fund studies help condo boards avoid underfunding their reserve funds. However, many boards contribute the bare minimum of 10% of the operating budget towards the reserve fund in accordance with the Condo Act. As a result, underfunding poses long-term financial problems difficult for boards to resolve. Here’s how reserve fund…

Reserve fund studies provide a great opportunity to find upgrade projects for your condo corporation that also reduce your energy costs. Here’s why energy efficiency is relevant to your condo’s reserve fund studies. Reductions in Utility Bills in Reserve Fund Studies As a member of your condo’s board of directors, your goal is to identify…

Reserve fund study considers the life span of each component in a condo development. This helps condo boards forecast costs for repairs or replacements down the line. The Condo Act only requires a 30-year plan outlining future needs. However, looking beyond that 30-year span provides valuable insight into some of the more costly repairs and…

One of the most important aspects of a condo board’s responsibilities is managing financials. This can be a challenge if condo boards don’t have a financial expert on the team. However, all boards have a budget prepared each year, usually by a condo management company. Condo management experts provide invaluable input when it comes to…

Everything you need to know about reserve fund study. Whether you sit on a condo board of directors or own a condo, understanding the ins and outs of condo management can be a big benefit. One of the most important aspects of condo management is the reserve fund study. According to the Condominium Act, 1998…