Alberta cost guide
What does a reserve fund study cost in Alberta?
A reserve fund study for an Alberta condominium corporation typically costs about $1,500 to $10,000 or more. The cost varies with the size and complexity of the property: a small condominium sits at the low end, and a high-rise apartment building at the top.
In British Columbia? See what a depreciation report costs in BC.
What a study typically costs
The cost of a study varies with the size and complexity of the property. As a general guide:
Fewer than 50 units
Smaller condominiums
$1,500 to $5,000
50 to 200 units
Larger townhouse complexes and mid-rise apartments
$3,500 to $7,500
More than 200 units
High-rise apartment buildings
$7,500 to $10,000+
Want your real number instead of a range? Our quote system prices your building from its type, unit count and location, and emails you a PDF within seconds with three package options side by side.
Get your quoteWhat moves the cost
Building type comes first. An apartment building has the most shared infrastructure: envelope, roofing, elevators, boilers, corridors, parkade and life safety systems. A townhouse corporation shares less, and a bare-land corporation may own little more than roads, drainage and landscaping. That is why two buildings with the same unit count can be very different jobs.
Then the number of units. Within a building type, more units means more of each component to inventory and a larger financial model.
Then what comes with the study. A study on its own costs least. Packages that add reserve fund software for the five-year term, annual updates, more board meetings or a more in-depth, engineer-signed study cost more, and are usually the better value over the life of the study.
What should not change it: a normal turnaround. Ours is a first draft about 30 days after approval, and it does not cost extra.
More on what drives the cost of a reserve fund study.
Three ways to buy a study from Reserve Plus
Basic
The study on its own
- Document review and site inspection
- Draft report and one virtual draft meeting
- Revisions and the final signed study (PDF)
Standard
The study plus myRPlanner
- Everything in Basic
- myRPlanner for five years
- Up to five virtual meetings
- Annual reserve fund updates and ongoing support
- Option to pay annually
Premium
A more in-depth study, signed by a Professional Engineer
- Everything in Standard
- More in-depth site inspection
- More detailed component descriptions and condition analysis
- Signed by a Professional Engineer (P.Eng.)
- Three contribution funding models
- Dedicated account manager and a board or AGM presentation
- Option to pay annually
Every Reserve Plus study is signed by an engineering professional, a P.Eng. or C.E.T. Your quote shows the price of all three packages for your building.
Common questions
How much does a reserve fund study cost in Alberta?
Roughly $1,500 to $10,000 or more. The cost varies with the size and complexity of the property. Smaller condominiums of fewer than 50 units typically run $1,500 to $5,000, larger townhouse complexes and mid-rise apartments of 50 to 200 units $3,500 to $7,500, and high-rise apartment buildings of more than 200 units $7,500 to $10,000 or more. Packages that add reserve fund software and ongoing support cost more. For your exact price, the Reserve Plus quote form returns a quote within seconds.
Why does an apartment building cost more than a townhouse with the same number of units?
Because there is more to assess. An apartment building has elevators, boilers, corridors, a parkade and life safety systems as common property, and every one of them has to be inventoried, condition-assessed and costed over 30 years. A townhouse corporation usually shares far less, and a bare-land corporation may own little more than roads, drainage and landscaping.
Can the study be paid for from the reserve fund?
In Alberta, the cost of the study may be charged to the reserve fund. Reserve Plus also offers annual payments on its Standard and Premium packages.
Does a reserve fund study affect our condo insurance?
It can help. Insurers price a building on its risk, and a current reserve fund study is one of the clearest records of the building’s condition and the corporation’s plan and funding to look after it. It is not an insurance appraisal, which is a separate report. How insurers look at your reserve fund.
What is the fastest way to get an exact price?
Use the Reserve Plus quote form. Enter the building type, number of units and location, and your quote arrives by email as a PDF within seconds, with three package options side by side.
Get your exact price in seconds
Tell us the building type, unit count and location. Your quote arrives by email as a PDF with all three packages.
Request a quote