Reserve Fund Studies
Axia Appraisal Group offers Reserve Fund Study services in Saskatoon and throughout Saskatchewan by a team of highly experienced and certified professionals. As AACI-designated members of the Appraisal Institute of Canada, we are fully qualified to provide accurate, comprehensive and compliant Reserve Fund Studies. Whether you are a small, self-managed bare land condominium or a large 200 unit complex, we have the expertise and professionalism to provide you with a study that suits the needs of your corporation.​
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If you are a property manager or condominium Board Member looking to obtain a quote for a Reserve Fund Study, please feel free to call, email or fill out our contact form. We are also happy to answer any questions you may have regarding the Reserve Fund Study Process.
What is a Reserve Fund Study?
Reserve Fund Studies provide an unbiased, third party plan for managing shared assets. They ensure that enough money is set aside to cover future expenses relating to common elements within the property reducing the need for a "special assessment" or "cash call" which could put an unexpected financial burden on unit owners.
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Reserve Fund Studies help to establish a replacement plan ultimately contributing to maintaining or increasing the value of both the property as a whole and individual condominium units.
Do I need a Reserve Fund Study?
The province of Saskatchewan has enacted legislation requiring all condominium corporations (with 12 or more units) to have a Reserve Fund Study completed every five years. For new condominium developments, a study is required within three years of the first annual meeting.​​​
Why is a Reserve Fund Study Important?
​​​Reserve Fund Studies help to establish a replacement plan ultimately contributing to preserving or enhancing the value of both the property as a whole and individual condominium units.
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Reserve Fund Studies help to ensure that the financial contribution towards the repair and replacement of common components is equitable between current and future owners over the life of the building.
Where does Reserve Fund Money Go?
Money for the reserve fund is generally collected as part of the monthly condominium fees. The money collected specifically for the reserve fund study is held in trust and can be invested, as determined by the Condominium Board, but in accordance with the Trustee Act, 2009 with any interest being added to the reserve fund.
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The Reserve Fund Study provides a guide as to when common components will require replacement. The Board withdraws funds from the reserve fund for approved expenditures to repair or replace these common components as required.
Axia Appraisal Group is a Business Partner of CCI North​
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