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A Looming Threat for Condo Reserves

Author: 
Jeff Runnalls, CPA, CA, RDBA
Publication date:
September 7, 2022
Article Summary: 

The article highlights the looming threat of soaring inflation and dynamic interest rates on Condominium Reserve Funds. With Canada's inflation rate reaching a 39-year high of 8.1%, Condo Reserve Fund contributions could face a 26% surprise increase in addition to the already anticipated 9% increase. To optimize Reserve Funds, Condominiums are advised to seek the help of a Registered Deposit Broker specializing in the Condominium Market. These brokers can offer access to multiple Financial Institutions, secure better CDIC/DICO insured rates and terms, and build a GIC portfolio that maximizes returns and ensures liquidity for planned expenditures without any cost or commitment. The article urges Condo Boards to take proactive steps to manage Reserve Funds amid the current inflationary environment.

Keywords: 

Inflation, Interest Rates, Condo Reserves, Reserve Fund Studies, Registered Deposit Broker, CDIC/DICO Insured GICs, Financial Institutions, Proactive Management, Condo Boards, Inflationary Environment.




Source Citation: 
Jeff Runnalls, CPA, CA, RDBA
A Looming Threat for Condo Reserves
September 7, 2022
https://www.cci.ca/resource-centre/view/1361?words=&filter=all
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