Reserve Fund Study

Why do you need a Reserve Fund Study?

A Reserve Fund Study is mandated in the Condominium Act in the Province of Ontario. A Reserve Fund Study is a broad-scope planning document for building managers and owners. It is a costing exercise that provides a clear picture of the condition of common elements in a specific building. It also acts as a guide, which determines replacement costs for common element components of a building over an established time period.

How Does King North Building Sciences Produce a Reserve Fund Study?

King North Building Sciences visually inspects the building as per a condition assessment. At this initial stage of the Reserve Fund Study, all common elements are evaluated for condition, age and performance. After evaluation, King North Building Sciences calculates an adjudged age, based on the designed life span of the component, as determined by basic engineering tables. King North Building Sciences obtains quantities for all applicable components, from either the drawings for the building in question, or from site measurements if drawings are not available. Once all relevant information is assembled, it is meticulously entered into a comprehensive spreadsheet. This detailed document provides a snapshot perspective of the cash flow and expenditures required for the common elements of the building. It should be noted that engineering tables are not able to discern the performance of a building's components, due in part to numerous variables, which must be taken into account in developing realistic Reserve Fund Studies.

King North Building Sciences is practical. Our extensive expertise in evaluating building components for condition and performance, combined with our proficient ability to develop Strategic Maintenance Plans, allows us to provide clear and concise results. We administer your Reserve Fund Study, as more than an exercise in replacement costing, which is easy to do when a building is less than 5 years old. King North Building Sciences takes a proactive approach, and positions your Reserve Fund Study as a comprehensive plan, for monitoring a building's performance from a maintenance perspective, which becomes increasingly important as a building ages.

Why Choose King North Building Sciences?

King North Building Sciences is a neutral third party. We are only in the assessment and consulting business. King North Building Sciences ensures quality and our qualified professionals reflect our dedication to the client.

For further information, contact King North Building Sciences today.