Reserve Fund Study

Metra Consultation provides reserve fund studies for divided co-ownership properties throughout Québec.

A reserve fund study provides the syndicate of co-ownership with a long-term financial plan for major repairs and replacement of common building components. Its purpose is to ensure that adequate funds are accumulated progressively, reduce the risk of unexpected special assessments, and support the long-term preservation of the property.

Regulatory Requirements

Under Québec’s divided co-ownership rules, syndicates must obtain a reserve fund study prepared by an authorized and independent professional.

The study must:

  • Be based on the maintenance log

  • Consider major repairs and replacements anticipated over the next 25 years

  • Recommend the amount that should be available in the reserve fund at the beginning of each year

  • Recommend the annual contributions required to finance the projected work

  • Be updated at least every five years

Existing syndicates have the applicable transitional period to obtain their first compliant study following the regulation’s entry into force on August 14, 2025.

Our Services

Our reserve fund study services may include:

  • Review of the declaration of co-ownership and available plans

  • Review of the maintenance log and previous technical reports

  • Inspection of accessible common building components

  • Inventory and condition assessment of major components

  • Estimation of remaining useful life

  • Identification of major repairs and replacements

  • Preparation of a 25-year intervention schedule

  • Development of preliminary construction-cost estimates

  • Consideration of construction-cost escalation

  • Evaluation of the current reserve fund position

  • Development of annual funding recommendations

  • Analysis of potential funding scenarios

  • Preparation of the professional reserve fund study

  • Presentation of findings to the board or property manager

Components Typically Evaluated

Depending on the property, the study may address:

  • Roofs and waterproofing systems

  • Façades, masonry, windows, and exterior doors

  • Balconies and guardrails

  • Foundations and structural components

  • Parking garages and traffic membranes

  • Roads, parking areas, and sidewalks

  • Plumbing, drainage, and pumping systems

  • Electrical and mechanical equipment

  • Elevators

  • Fire-protection and life-safety systems

  • Interior common areas

  • Landscaping and site infrastructure

  • Other common materials, systems, and equipment

Financial Planning

The study connects the physical condition of the building with the syndicate’s financial planning.

Our analysis considers:

  • Current reserve fund balance

  • Timing and estimated cost of major work

  • Remaining useful life of components

  • Annual recommended contributions

  • Cost escalation over the study period

  • Previously deferred maintenance

  • Alternative funding scenarios

  • Potential impact of accelerated or postponed work

The board remains responsible for establishing contributions in accordance with the applicable requirements and the study’s recommendations.

Integrated Technical Expertise

Metra Consultation combines structural, civil, geotechnical, building-envelope, and multidisciplinary engineering knowledge. Where a component requires additional investigation, our team can identify the concern and recommend the appropriate specialized assessment.

Deliverables

The reserve fund study may include:

  • Executive summary

  • Component inventory

  • Condition and useful-life assessment

  • Twenty-five-year repair and replacement schedule

  • Preliminary cost projections

  • Reserve fund cash-flow analysis

  • Recommended annual contributions

  • Funding scenarios

  • Key assumptions and limitations

  • Priorities and recommended next steps

Contact Us

Contact Metra Consultation to prepare or update your syndicate’s reserve fund study and establish a practical long-term plan for major repairs, replacements, and financial stability.