What Is a Contingency Fund Study under Bill 16?
Bill 16 requires condominium associations to set up a contingency fund to finance major future work. This obligation requires a professional study that assesses the current condition of the building, identifies components that need to be replaced, and establishes a schedule of future expenses. Our compliant study helps you plan for the future.
How Does a Contingency Fund Study Work?
What Is Assessed during a Contingency Fund Study?
Plan your future work without any unpleasant surprises!
Emergency electrical services
All our technicians are trained and certified
Satisfaction guaranteed on every project
What Happens during a Contingency Fund Study?
We inspect all major elements of the building: roof, exterior siding, windows, balconies, parking lot, and more. For each component, we assess its current condition, remaining life, and estimated replacement cost. The final study presents a work schedule with financial projections.
Our Assessment Based on Field Experience
Our in-depth knowledge of the market guarantees reliable estimates that respect your budgetary reality while ensuring legal compliance. Thanks to our decades of experience in construction, renovation, and real estate, we accurately assess:
- Condition and lifespan of roofs and building envelopes
- Communal mechanical systems, plumbing, and electrical installations
- Concrete structures, balconies, and architectural elements
- Common areas, parking lots, and outdoor amenities
- Realistic replacement costs based on current standards
Meet your legal obligations with confidence!
