Functional Reserve Fund Studies

Functional Reserve Fund Studies from TVL Consulting Ltd.

By: TVL Consulting Ltd.  09-10-2015
Keywords: Condominium, Ontario, Manitoba

The functional reserve fund study includes a description and estimated life expectancy, over 30 years, of items that are part of common property, common assets, limited common property or parts of the condominium lot that the corporation is responsible for. This may include, but is not limited to: the building's structure the building's exterior including the roof, doors, windows and skylights the building's systems, including the plumbing, heating, electrical, fire protection and security the building's common facilities and amenities the building's parking facilities and roads the building's utilities the building's landscaping the building's interior finishes, including furnishings and floor coverings green building components, and the building's balconies and patios As of February 1, 2015 new legislation requires that all condominium corporations in Manitoba have a reserve fund study prepared and updated every five year

Keywords: Condominium, Functional Reserve Fund Study, Manitoba, Ontario, reserve fund study

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