FUND STUDY

A clear analysis of the Fund Study which ensures compliance with Law 16

The Fund Study, as defined by Bill 16, is a comprehensive assessment of the long-term maintenance needs of the common areas of the co-ownership and the financial requirements associated therewith. It aims to ensure that the Condominium Association adequately plans and budgets for future long-term maintenance and replacement costs in order to maintain the value and sustainability of the property.

SAY GOODBYE

TO SPECIAL CONTRIBUTIONS

Bill 16 imposes specific legal requirements regarding fund studies for co-ownerships in Quebec. These requirements are summarized as follows:

  • Regular fund studies at five-year intervals;

  • Physical inspection to assess the condition of building components and infrastructure;

  • Financial analysis to estimate future replacement costs for identified construction elements;

  • Results recorded in a detailed report.

In addition, under Bill 16, the Syndicate (condominium association) has several responsibilities related to fund studies, including:

  • Organization of provident fund studies at regular intervals, in accordance with the requirements of Law 16;

  • Implementation of the report’s recommendations to finance future maintenance needs, including the establishment and management of the contingency fund;

  • Communicate with the co-owners the conclusions and recommendations of the contingency fund study to the co-owners.

Overall, contingency fund studies play a crucial role in ensuring the long-term maintenance and viability of condominium properties in Quebec, and Bill 16 establishes legal requirements to guide condominium associations in their planning and management efforts.

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Maintenance Booklet

Preparation of recommendations from one of our experts for future maintenance tasks based on the current condition of the condominium.

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Condition Certificate

Preparation of the property Condition Certificate for the common areas, which is intended to be a photograph of the physical state of the common areas at the time the study was carried out.

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Consultation

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