The Inadequacy of Reserve Fund Provisions

July 1, 2014 | Jason Rivait | Toronto

Condo Voice - Canadian Condominium Institute, Summer 2014 (page 57)

There’s much discussion in the condo industry about reserve funds. As recently reported by major news outlets, some condos have levied special assessments of approximately $40,000 per one bedroom unit to cover the cost of major common element repairs and replacements due to inadequate reserve fund planning.