A Reserve Fund Study is a financial document intended to provide ownership, both current and future, with a sustainable financial plan for maintaining major common property components. It includes cost estimates of major repairs and replacement of components and assets of mid and larger size condominium developments. It provides physical and financial information, estimates and projections for funding the major repair and replacement of reserve components.
In Alberta, this document is a requirement as outlined in the Condominium Property Act and related Regulations. While legislation does not specifically state who and what training is required to complete such a study, it is widely recognized that an AACI designated member of the Appraisal Institute of Canada holds the preferred qualifications.
To supplement the AACI designation, Gerry Gehlen, AACI, P.App has also successfully completed an intensive week long Reserve Fund Study Course and attained the Certified Reserve Planner (CRP) designation and Wendy Sydoruk, AACI, P.App has also completed an extensive Reserve Fund Study course through the University of British Columbia.
We welcome the opportunity to assist you with your next Reserve Fund Study.