Reserve Fund Studies
Reserve Fund planning is an essential tool to annual operating budgets and sound financial management of depreciating improvements. Benchmark's Reserve Fund Reports have been developed to be user-friendly over 30+ years of experience in the day to day management of condominium communities in Calgary, Alberta.
Benchmark Management Ltd. specializes in smaller condominium properties (less than 40 units). Your board members will find our reports to be concise and exceptionally easy to implement as their Reserve Fund Plan. Contact us to schedule a free consultation.
Did you know? Changes to the CONDOMINIUM PROPERTY ACT RSA 2000 (in 2000) mandated that all condominium corporations: “Establish and maintain a Capital Replacement Reserve Fund to provide for major repairs and replacements of any real and personal property of the condominium corporation and the common property”.
The Condominium Property Regulation further provides that “a condominium corporation must retain a qualified person to carry out a study of the depreciating property and prepare and submit a report." The board of directors of the corporation must then approve a reserve fund plan.