Differences Between High-Rise and Town-House Reserve Fund Studies in Ontario

In Ontario, all condominium corporations are required to have a reserve fund, study, and plan. High-rise and townhouse condominiums differ in their reserve fund studies due to the complexity and number of common elements. High-rise condos typically have more complex elements, such as elevators and multi-level underground parking garages, requiring specialized maintenance and more detailed assessments. Townhouse condos have simpler elements, resulting in less complex and expensive reserve fund studies. Additionally, the way reserve fund contributions are calculated and distributed can differ based on unit size and type in high-rise condos, while in townhouse condos, contributions are often based on the number of units and bedrooms. Despite the differences, both types of condos must conduct reserve fund studies every three years as required by law.