Reserve Fund Study

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Reserve Fund Study

Updated on 2023-02-272023-02-26

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Condominiums are now legally obligated to hire a qualified engineering company to examine the building structure and all systems.

The examination will determine the remaining life in each system, eg: how long before the roof needs to be replaced. How long before the building envelope need to be replaced, etc.

The Reserve Fund Study will attempt to predict the costs of repairing or replacing those systems, and the monthly reserve fund contributions by each owner will be adjusted to meet future needs of the fund.

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