Reserve Fund Study

Safe and Sound provides comprehensive Reserve Fund Studies for Condominium Corporations, as well as Capital Cost Assessments for Co-operative Housing, Apartment Complexes, and other developments through our subsidiary company.

A Reserve Fund Study is a financial plan which is completed to ensure that adequate funding will be available for the major repair or replacement of the common assets of a condominium corporation.

Safe and Sound utilizes the Real Estate Institute of Canada’s Functional Reserve Study model, which is widely recognized as the most advanced reserve fund planning system in Canada. This model focuses on providing a sound financial plan, in addition to a thorough assessment of the building and its components.

Our report includes detailed photos and descriptions of the building’s components and their condition. It utilizes easy to interpret spread sheets detailing component information, relevant financial data, and summarized projections for ease of reference.

30-year projections are provided to estimate the timing and cost of major repairs and component replacement. Adequacy of the present fund level and contributions by unit owners are evaluated based on anticipated factors which include, but are not limited to construction cost inflation, investment performance, and past fund performance.

Different variations of future contribution amounts and the resultant effects can easily be explored utilizing our “Living Fund Analysis Spreadsheet”. This assists us in determining the future contribution amounts that are most optimal to unit owners.

A well executed Reserve Study makes life easier by minimizing contribution amount fluctuation, the likelihood of special assessment, and disruption from unplanned repair work by planning proactively. We strive to be thorough, approachable, and receptive- and pride ourselves on building long term relationships working with our clients, not just for them.

A reserve study is only required every 10 years by legislation in the Province of Newfoundland and Labrador at present. However, to achieve optimum effectivity, we recommend that a full reserve study be competed each (5) years, with an update each (3) years to meet the standards that are legislated in other provinces such as Ontario, and British Columbia. This allows us to achieve greater accuracy with projections and adjust contribution levels based on changes in economic conditions.

We would be happy to meet with the corporation’s board of directors, or to present a sample study which fully details our process. Please contact Tom Gresham, Certified Reserve Planner at your convenience at (709)765-0091, or via email at