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Reserve Fund Study Report Card - Unfamiliar Systems

Author: 
Sophia Simeone, Sally Thompson
Publication date:
May 5, 2022
Article Summary: 

The article discusses the importance of considering unfamiliar and environmentally friendly systems in reserve fund studies for condominiums. It presents a case of a condo with a ground-source geothermal system and solar panels that were not adequately accounted for in the reserve fund study. The article emphasizes the need for reserve fund planners to take extra steps to understand these atypical systems, including calling specialty contractors to gather information about maintenance procedures, replacement costs, and service lives. Property managers are advised to do their homework to ensure proper maintenance and operation of these unfamiliar systems.

Keywords: 

Reserve Fund Study, Condominium, Unfamiliar Systems, Environmental-Friendly Systems, Ground-Source Geothermal System, Solar Panels, Maintenance Procedures, Replacement Costs, Service Lives, Property Managers, Specialty Contractors, Condo Budget.




Source Citation: 
Sophia Simeone, Sally Thompson
Reserve Fund Study Report Card - Unfamiliar Systems
May 5, 2022
https://www.cci.ca/resource-centre/view/1218?words=&filter=all
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