Condominium Reserve Fund Studies – The Next Steps

The article discusses the concept of the Total Cost of Building Ownership (TCBO) in condominiums, which includes both common element costs and individual unit owner costs. The goal is to reduce the TCBO while maintaining the value of the building and reducing energy consumption and greenhouse gas emissions. Deep retrofits are proposed as an approach to achieving these goals, involving major upgrades to improve energy efficiency, sustainability, and durability of the building. The Deep Retrofit process evaluates the entire building as a sustainable system over its useful life, considering factors such as building component life cycles, maintenance costs, energy consumption, property tax, and carbon tax. The process requires the input of an experienced team to identify optimal investments that minimize TCBO over the building's remaining useful life.