Reserve fund minimums vary according to each condo corporation

Q. Is there a specific amount of money required by all condo corporations to be in the reserve fund account? I don’t want to buy a condo that is financially stressed because of an inadequate reserve fund. How do I know what amount is sufficient? This is my first condo so I do not want any unpleasant surprises like huge special assessments.    Read the Q&A………….


Related Articles

Mandarin-speaking strata council to get province’s attention

Prospective B.C. Human Rights Tribunal complainant Andreas Kargut says he and his non-Mandarin speaking Wellington Court strata members are willing

Condo Culture: Smoke-detector readiness is everyone’s responsibility

Q. Who is responsible for confirming that the condo owners have smoke detectors and that they are in proper working

Shangri-La balconies off-limits after falling glass prompts test (ON)

Condo residents at Toronto’s Shangri-La hotel are being told not to use their balconies after several incidents of falling glass.