Reserve Fund Studies

At our company, we specialize in delivering straightforward reports designed to cut through the noise. We understand that condominium boards face critical decisions that require clear and concise information. Our Reserve Fund Studies are meticulously crafted to present only the essential data, avoiding any unnecessary fluff or filler. Our aim is to empower boards with the insights they need to navigate their challenges efficiently. Each report is tailored to highlight key factors, enabling decision-makers to focus on what truly matters. By providing simplified, actionable reports, we help condominium boards make informed choices that drive positive outcomes for their communities.

The fundamentals of a Reserve Fund Study

A reserve fund study is a vital financial planning tool for condominiums, HOAs, and shared properties, assessing the long-term repair and replacement costs of common elements. It's not a static document, but rather a "living" plan, typically updated every 3-5 years, or as mandated by local condominium regulations. This regular update allows the study's assumptions, like inflation rates, interest earnings, and component lifespans, to be modified to more accurately reflect current market conditions and the property's actual state. By factoring in these changes, and accounting for the impacts of both inflation and interest, the reserve fund study provides a realistic, evolving funding plan, ensuring sufficient capital is available for major repairs and protecting owners from unexpected financial burdens. This iterative process is key to maintaining the long-term financial health of the property.

The Importance of a Reserve Fund Study

A reserve fund study is a comprehensive financial assessment designed to ensure the long-term sustainability of a condominium’s shared assets. It evaluates the current condition of common property elements—such as roofs, parking lots, and mechanical systems—and estimates the costs required for their repair or replacement over time. This study serves as a roadmap for maintaining the financial health of a condominium corporation, aligning projected expenses with a funding plan that minimizes unexpected financial strain on unit owners.

By addressing potential future costs proactively, a reserve fund study supports informed decision-making, promotes financial stability, and ensures the ongoing preservation of property value.

Reserve Fund Studies

We provide clear, detailed reports for condominiums to forecast future expenditures allowing condominiums to be proactive.

Customizable Plans

We tailor our studies to meet the unique needs of smaller self-managed condominium corporations effectively.

Easy to Understand

Our reports eliminate technical jargon, ensuring that all owners can easily comprehend the findings.

Reserve Fund Process with Oak Reserve Planning

A Clear and Transparent Approach to Project Delivery

Engage New Client and Provide Quote

Establish initial contact with the potential client, understand their needs, and present a formal proposal outlining services and costs

Information Collection and Inspection

Gather all relevant documentation and conduct a thorough on-site examination of the subject property.

Provide Draft and Close-Out Meeting

Provide the first draft of the reserve fund study accompanied with an invoice. A meeting to go discuss the findings and address any questions can be held. Final report would follow any required revisions.

Report Generation

Analyze the collected data and inspection findings to create a comprehensive report outlining the current state, recommendations, and projected outcomes.

Sample RFS

This sample provides a clear example of the quality, detail, and style you can expect from our reserve fund studies. If you have questions or would like to learn how we can tailor a report to suit your corporation’s specific needs, please contact us.

Frequently asked questions

Why do I need a reserve fund study?

Reserve fund studies are essential for condominiums, as they ensure the proper management and maintenance of shared properties. Reserve Funds Studies are further required by legislation. In Alberta, the Condominium Act and the Condominium Property Regulations mandate that reserve fund studies be conducted every five years.

Does Oak Reserve Planning complete reserve fund studies for non-condominium properties?

Yes, we offer reserve fund studies for a wide range of property types beyond condominiums. We understand the importance of planning for future capital expenditures, regardless of ownership structure. Our studies provide valuable insights and a structured financial roadmap to help all property owners protect their investments and ensure long-term sustainability.

How much do reserve fund studies cost?

Our pricing varies depending on the number of units, number of common components, quality of finish, complexity of design, etc. Pricing starts at approximately $1,800 for a basic 4-unit condominium and can be $7,500+ for highrise reserve fund studies.

How does having a good reserve fund plan help increase the value of our property?

A well-structured reserve fund plan serves as a powerful tool to demonstrate responsible financial management of a property. It assures current owners and potential buyers that the property's reserve fund finances are well-managed and that future needs have been thoughtfully planned for. This transparency and foresight can significantly enhance the perceived value and attractiveness of your property.

How long is the process?

from your initial inquiry, the process is between 3-4 weeks. For quick turnaround times information provided by the condominium corporation is provided promptly and is well organized.

What areas do you service?

We proudly serve clients across Alberta and are always looking to expand our operations to new areas.