Safe and Sound provides comprehensive Reserve Fund Studies for Condominium Corporations, as well as Capital Cost Assessments for Co-operative Housing, Apartment Complexes, and other developments.
A Reserve Fund Study is a financial plan which is completed to ensure that adequate funding will be available for the major repair or replacement of the common assets of a condominium corporation.
Safe and Sound utilizes the Real Estate Institute of Canada’s Functional Reserve Study model, which is widely recognized as the most advanced reserve fund planning system in Canada. This model focuses on providing a sound financial plan in addition to a thorough assessment of the building and its components.
Our report includes detailed photos and descriptions of the building’s components and their condition. It provides easy to interpret spread sheets detailing component information, relevant financial data, and summarized projections for ease of reference.
A 30-year projection is provided to estimate the timing and cost of major repairs and component replacement. Adequacy of the present fund level and contributions by unit owners are evaluated based on anticipated factors which include, but are not limited to construction cost inflation, investment performance, and past fund performance.
Different variations of future contribution amounts and the resultant effects can easily be explored using our “Living Fund Analysis Spreadsheet”. This allows us to determine the future contribution amounts that are most optimal to unit owners.
A well planned Reserve Study minimizes the likelihood of financial burden such as special assessments, or disruption from unplanned repair work. We pride ourselves on building long term relationships working with our clients, not just for them.
We would be happy to meet with the corporation’s board of directors to present a sample study which fully details our process. Please contact Tom Gresham, Certified Reserve Planner at your convenience at (709)765-0091, or via email at firstname.lastname@example.org.