Reserve Fund Studies
Brown & Beattie Ltd. performs Reserve Fund Studies for Condominium Corporations on a daily basis and as such forms part of our core business. We have performed over 1000 Reserve Fund Studies for a variety of condominium types including high-rise residential, townhome, stacked townhome, shared facilities, freehold, vacant land, commercial and industrial ranging in size from just 4 units to over 400.
Types of Studies include complete Comprehensive Reserve Fund Studies (Class 1), Updates with Site Inspection (Class 2) and Updates without Site Inspection (Class 3). Each of our studies complies with the requirements of the Condominium Act.
Our services include a review of condominium documents including the Declaration and condominium boundaries, financial statements and maintenance history. A physical inspection of the common element components of the property for Class 1 and Class 2 Studies is carried out. This would include sample locations of accessible areas.
Our financial analysis compares the condominium's current status of the reserve fund with the anticipated future expenditures based on the physical inspection. Using our Reserve Fund Study analysis software we are able to determine if your Reserve Fund is under or over funded. Various financial plans are presented in draft form for review and discussion by Property Management and the Board of Directors. If necessary, our Engineers will attend Board Meetings to review the various options. Revised drafts can be prepared if they fit within the physical inspection and financial parameters. Upon acceptance by the Board, we prepare Form 15 and other final documentation. Tables are included in the back of the Study for Management to track future reserve fund study expenditures until the next Update. All information is archived electronically enabling us to perform cost effective Reserve Fund Study Updates.
Case Study > Shingle Roofing Assessment
A complete assessment of the roofing at this Mississauga townhome condominium complex was carried out to prioritize upcoming shingle roofing replacement. The replacement was completed in multiple phases to address the roofs which were in the poorest condition and requiring costly maintenance first. The other roofs were replaced later reducing strain on the condominium's Reserve Fund. Shingles were purchased in advance to ensure the colour and style on each block matched. Brown & Beattie Ltd. provided tendering, contract administration and construction review services during each phase.
Case Study > Asphalt Pavement Overlay
The existing asphalt pavement in the private roadways at this Scarborough townhome complex were generally worn but in serviceable condition. The Owner desired upgraded appearance and improved serviceability however. Given the fair condition of the existing pavement, we were able to specify localized repairs followed by a general asphalt overlay on top of the existing asphalt pavement. Doing so enabled the Owner to save tens of thousands of dollars over general replacement while still achieving their desired objective and staying within Reserve Fund budgets.
Case Study > Garage Repairs
The replacement of deteriorated concrete at the parking garage roof slab of this Bradford senior's building was safely phased over multiple years during the planning and design stages to accommodate the condominium's Reserve Fund. Special care was taken during construction to provide residents barrier-free access to the main entrance even while work was ongoing in that area.
Case Study > Parking Garage Improvement
The parking garage roof slab of this Kitchener condominium complex was repaired and returned to a sound condition, including general removal of deteriorated concrete, cleaning and treating of reinforcement and application of a waterproof membrane. A retaining wall was installed at the edge of the parking lot in conjunction with this work to take advantage of related cost savings to the Condominium and lessen the impact on the Reserve Fund. Brown & Beattie Ltd. provided specification and tendering services along with general field review and contract administration.
Case Study > Asphalt Pavement Overlay
The existing asphalt pavement in the private roadways at this Scarborough townhome complex were generally worn but in serviceable condition. The Owner desired upgraded appearance and improved serviceability however. Given the fair condition of the existing pavement, we were able to specify localized repairs followed by a general asphalt overlay on top of the existing asphalt pavement. Doing so enabled the Owner to save tens of thousands of dollars over general replacement while still
achieving their desired objective and staying within Reserve Fund budgets.