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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About the PublisherBo Kauffmann is a residential real estate agent with over 18 yrs experience in helping buyers and sellers achieve their goals. Inducted into the REMAX Hall of Fame in 2010 and receiving the REMAX Lifetime Achievement Award in 2019, Bo has sold over 500 houses and condos in the Greater Winnipeg market. He is an accredited buyer representative (A.B.R.) and a Luxury Home Marketing Specialist. Bo provides exceptional service to First-Time Home-Buyers, Seniors looking to downsize and Home Sellers of all ages. He can be reached easily By E-Mail or call/text him Call/Text Here
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