Reserve Fund Study Report Card - Shared Facilities

The article discusses the results of a reserve fund study report card for shared facilities in two townhouse corporations and stacked townhouse units. In the first case, the assumption of shared facilities between the two corporations was found to be incorrect based on condo plans and reference plans. This led to discrepancies in reserve fund costs and decision-making authority for repairs. The lesson learned is to always check condo plans and reference plans to confirm assumptions made in reserve fund studies. In the second case, a "one size fits all" unit rate for garage roof deck waterproofing in stacked townhouse units led to significant cost discrepancies due to individual project complexities. The takeaway is to consider individual project challenges and site conditions when developing reserve fund study budgets.