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Reserve funds : Condominium Property Act

Description

The Condominium Property Act requires that condominium corporations establish and maintain a capital replacement reserve fund to provide for major repairs and replacement of property and common... More ≫

Description

The Condominium Property Act requires that condominium corporations establish and maintain a capital replacement reserve fund to provide for major repairs and replacement of property and common property owned by the corporation. This fact sheet covers the responsibility and financing information for condominium boards, corporations and owners.

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Emergency use of reserve funds

Description

This information sheet explains rules around the use of reserve funds by condominium corporations in certain emergency situations to cover operating fund shortfalls resulting from declared states... More ≫

Description

This information sheet explains rules around the use of reserve funds by condominium corporations in certain emergency situations to cover operating fund shortfalls resulting from declared states of emergencies such as a public health emergency, wildfire, or overland flooding.

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