If you live in a condo, or are thinking about moving into one, you’ve probably heard about Condo Reserve Funds before. The Condominium Property Act in Alberta, requires that condo boards establish and maintain a reserve fund, to provide capital for major repairs and replacement of common property owned by the corporation. It is helpful […]
Tag Archives: condo reserve fund
How much do you know about condo reserve funds?
The Condominium Property Act in Alberta, requires that condo boards establish and maintain a reserve fund, to provide capital for major repairs and replacement of common property owned by the corporation. As buildings age, they need to be repaired: roof, parking lots, landscaping, etc. Condo owners must pay for the repair or replacement of common […]
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