Heading 5
Heading 5
Heading 5
Heading 5
Heading 5
Heading 5
Heading 5
Heading 5
Heading 5
Choose your role:
Category:
Important Resources
Save this article >
Performance Audit
Author:
Caliburn Engineering INC.
Publication date:
November 24, 2022
Article Summary:
The Ontario Condominium Act 1998 mandates a Performance Audit review of the common elements of newly constructed and converted condominiums. The Performance Audit must be conducted within the first year of registration and identifies construction deficiencies in a detailed report. The report is provided to the Board, property management, and uploaded to Tarion to initiate the warranty process. The Performance Audit is usually performed alongside the Reserve Fund Study by a qualified professional, such as a person with a Certificate of Authorization under the Professional Engineers Act. After the Performance Audit, a Designate is assigned by the Corporation to manage the warranty items and monitor repairs made by the builder. Caliburn Engineering can assist in managing the Designate process and perform site inspections to ensure that all deficiencies are addressed.
Keywords:
Ontario Condominium Act 1998, Performance Audit, common elements, newly constructed, converted condominiums, inspection, findings, construction deficiencies, mandatory review, First Year Performance Audit, Certificate of Authorization, Professional Engineers Act, Board, property management, Tarion, warranty process, Reserve Fund Study, Designate, builder, repairs, Caliburn Engineering, site inspections, deficiencies addressed.
Source Citation:
Caliburn Engineering INC.
Performance Audit
November 24, 2022
Did you find this article useful?
Your feedback is important not only to us, but to all the other key players in the condo industry. Help us by letting us know if this article is relevant and useful. This will help us prioritize articles that provide helpful guidance to other key players like you.
Please login to use this feature.
