Reserve Fund Study · Alberta
Condo Reserve Fund Studies in Calgary
Reserve Plus is based in Calgary, and our studies are prepared by engineering professionals. We have been engaged for more than 500 reserve fund studies in Calgary since 2012, more than in any other community we serve, for condo corporations ranging from small townhouse complexes to buildings of 100 units and more.
Our record near Calgary
Reserve Plus has worked in 40 Alberta communities since 2012, including 13 across the Calgary region. These are engagements, meaning corporations that appointed us, not enquiries. Across Alberta we study everything from small bare-land and townhouse corporations to properties of more than 500 units. Of those, more than 55 have 100 units or more.
In Calgary
More than 500 reserve fund studies since 2012. Every report is authored by a qualified professional and delivered as a first draft in 30 days or less, with myRPlanner (powered by StelorPM) included in Standard and Premium studies.
The Calgary condos we study
Most Calgary condo corporations are small, and our record shows it. Of the 261 Calgary studies where the unit count is on record, 63% were for corporations of 24 units or fewer.
| Property size | Studies | Share |
|---|---|---|
| 10 units or fewer | 76 | 29% |
| 11 to 24 units | 88 | 34% |
| 25 to 49 units | 49 | 19% |
| 50 to 99 units | 23 | 9% |
| 100 units or more | 25 | 10% |
Corporations that size are usually townhouse complexes, low-rise buildings and bare-land corporations run by volunteer boards. Their reserve funds are small, so a single roofing, siding or paving project can take a large share of the balance. The study has to show when those costs arrive and what contributions will cover them without a special assessment.
At the other end, 25 of those studies were for properties of 100 units or more. Those plans also carry components a townhouse complex doesn't have, such as parkades, elevators and central mechanical systems.
If your corporation has 12 units or fewer, Alberta's Condominium Property Regulation lets owners pass a special resolution to prepare the study themselves. Many small boards still hire an independent provider, because the study sets contributions for the next five years, and buyers and their agents look closely at the reserve fund when a unit is sold.
We work in all four quadrants, from concrete high-rises downtown and in the Beltline and Mission to walk-up apartment buildings and townhouse complexes in suburban communities like Mahogany, Tuscany, Evanston and Signal Hill. Walk-ups, high-rises and townhouses make up most of our Calgary work.
Our team is based in Calgary, and site reviews across the city and the surrounding communities are part of our regular schedule.
Reserve fund planning between studies
In Alberta the study is where planning starts. After each study, the board must adopt a reserve fund plan based on it: how the fund will be financed and the annual contributions needed to meet projected costs over 30 years. The reserve fund records must be available for owners to inspect, and the plan is renewed with a new study at least every five years.
Reserve fund planning is the work between those studies. Costs change, projects come in early or late, and contributions are set once a year. Our Standard and Premium studies include myRPlanner (powered by StelorPM) for the full five-year term, so your board and property manager can record actual contributions and expenditures each year, produce the annual report, and see the risk of a special assessment before it turns into a levy.
The Act doesn't require an annual review, but it is the practice we recommend, and it is what myRPlanner is built for. For a regular independent check, see our reserve fund analysis.
Engineer or certified reserve planner?
Alberta's Condominium Property Regulation doesn't require one profession. Engineers, architects, accredited appraisers (AACI), certified reserve planners (CRP, a designation of the Real Estate Institute of Canada), professional quantity surveyors and registered technologists can all prepare a reserve fund study, as long as they are independent of the corporation. The full list is on our Alberta page.
Reserve Plus studies are prepared by engineering professionals, and we charge in line with certified reserve planners and appraisers. A reserve fund study is a budget, not an engineering design report, and our process and software keep the work efficient.
Whoever you hire, ask each provider the same questions:
- What designation does the person who signs the report hold, and are they independent of the corporation, its board and its property manager?
- Will they inspect the property on site? Alberta requires a visual inspection for every study.
- Does the projection cover every depreciating component over 30 years?
- How long until the first draft? Ours arrives in 30 days or less.
- What happens between studies, and how will the board keep the plan current?
What Alberta requires
Requirements are set by the province, not the municipality, so a Calgary corporation is governed by the same rules as the rest of Alberta. The full requirements, including who is eligible to author the report, are on our Alberta page.
What you receive
Component inventory
Every common property component, including the building envelope, interior, mechanical and life safety systems, recorded with its present condition.
Condition and remaining life
Actual and effective age, remaining life, and current and future replacement cost for each component.
30-year financial projection
The contribution levels needed to meet those costs, and the risk of a special assessment if they are not met.
myRPlanner, with Standard and Premium
Keep the plan current between studies, approve it as most jurisdictions require, and compare actual against expected each year.
Request a quote for your Calgary property
Questions from Calgary boards
Does Reserve Plus work in Calgary?
Yes. Reserve Plus is based in Calgary, and we have been engaged for more than 500 reserve fund studies in the city since 2012.
How often does a Calgary condo corporation need a reserve fund study?
At least once every 5 years, under Alberta's Condominium Property Act. A new corporation has 2 years from registration to complete its first study. The rules are set by the province, so they are the same in Calgary as anywhere else in Alberta.
Can a small condo corporation prepare its own reserve fund study?
A corporation with 12 units or fewer can pass a special resolution to conduct the study internally. Otherwise the study must be prepared by a qualified provider who is independent of the corporation: directors, officers, employees, the property manager and their spouses are disqualified.
What is the difference between a reserve fund study and a reserve fund plan?
The study inspects the common property, estimates when each component will need repair or replacement and what it will cost, and recommends how much the fund needs. The plan is what the board adopts after the study: how the fund will be financed and the annual contributions to be collected.
Do you work outside Calgary?
Yes. Across the Calgary region we have also been engaged in Priddis, Cochrane, Airdrie, Okotoks, High River, Strathmore, Rocky View, Bragg Creek, Chestermere, Diamond Valley and Vulcan County, and across Alberta in 40 communities in total.