A Reserve Fund Study, also known as a Depreciation Report, is a detailed analysis and compilation of recommendations for reserve funding. A reserve fund study serves as a plan for the use of resources for replacements of building components as well as for major building repairs and improvements over time.
If you require a Reserve Fund Study, or would like additional information about Reserve Fund Studies and Depreciation Reports, please visit our Reserve Fund Advisors website.
British Columbia*apos;s Strata Property Amendment Act of 2009 became effective January 1, 2010. Additional changes were made December 13, 2011 which have significant impacts on Reserve Fund Studies and Depreciation Reports in BC.
Read more about the legislative changes regarding BC Depreciation Reports on our Reserve Fund Advisors website.
Professional engineers or other professionals including Appraisal Institute of Canada Accredited Appraisers whom may hold the Certified Reserve Planner (CRP) professional designation may conduct Reserve Fund Studies.
CRP professionals conduct Functional Reserve Fund Studies which focus on the financial and physical aspects of the strata, whereas Engineered Reserve Fund Studies focus on only the physical aspects.
To learn more about Reserve Fund Studies and Depreciation Reports, or to have one done, please visit our Reserve Fund Advisors website.
There are many reasons to have a Reserve Fund Study (Depreciation Report) conducted, including to be compliant with the BC Strata Property Amendment Act, to fulfill the duty of the strata council, to prolong the life of the building and many more.
If you require a Reserve Fund Study and would like further information, you can be re-directed to our NLD Consulting – Reserve Fund Advisors website here.
There are three groups of people that should have Reserve Fund Studies (Depreciation Reports) conducted:
If you require a Reserve Fund Study and would like further information, you can be re-directed to our NLD Consulting – Reserve Fund Advisors website.