Reserve Fund Study

reserve fund underfunding

How To Use Reserve Fund Planning To Avoid Underfunding

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…
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reserve fund study

Why Energy Efficiency is Critical to Reserve Fund Studies

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…
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reserve fund study beyond 30 years

How Looking Beyond 30 Years Improved Reserve Fund Study

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…
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condo reserve fund

What You Need to Know About A Condo Reserve Fund

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…
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Reserve Fund Study for condos

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…
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