Contingency fund study
Legal Requirement. We excel in financial projections.
Condominium expert
We help condo owners in Quebec comply with Act 16
Does your condominium comply with the requirements of Law 16?
Our complementary team of engineers and actuaries helps you comply with Law 16 and implement best practices in building management.
We conduct a reserve fund study and maintenance logbook, two essential documents for ensuring your condominium complies with the law.
Contact us for a free quote for a maintenance log and contingency fund study for your condo.
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Maintenance logbook
Legual requirement. Our logbook doesn’t require a subscription to our services.
Act 16 Reference guide
To understand the Act and know what matters for you and your condo.
Free template – Maintenance log
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Condominium association administrator?
We support you in your responsibilities.
Managing a co-ownership is not easy. Between legal obligations, financial decisions, and work to plan, it's normal to feel overwhelmed. Borée is here to guide you.
- Support in applying Law 16
- Access to practical tools and templates
- Clear explanations to help you make the right decisions
- Independent, neutral, and professional expertise
Are you in Montreal?
Our services are tailored to the unique reality of Montreal condominiums.
With century-old buildings, condominium conversions, underground parking, and urban density, Greater Montreal has its own particularities. At Borée Professional Services, we understand the specific challenges of your sector.
- Tailored to small and large buildings
- Compliant with Law 16, even for older buildings
- Concrete strategies to avoid special assessments
Are you in Mont-Tremblant?
We understand the unique challenges of condominiums in rural areas.
Buildings in the Laurentians have their own realities: wood construction, tourist or seasonal condominiums, etc. At Borée Professional Services, we have hands-on experience.
- Extensive knowledge of buildings in natural environments
- Concrete recommendations to make your assets last
- Local expertise in Mont-Tremblant, fast and available
The team at Borée is here to help
We provide you with combined expertise in finance and construction. Carolane, an actuary, and Mathieu, an engineer, combine their skills. They'll help you manage and ensure the long-term future of your co-ownership. We're here to guide you every step of the way.
Carolane GauthierActuary
Mathieu Marier-TasséEngineer
Suitable for small
and large condominiums
Supported by
professionals
Present throughout
Québec
Ready to work with us?
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FAQs
What is Act 16 and what are its obligations for condominium associations?
Act 16 regulates the management and maintenance of condominiums in Quebec.
It makes three key professional elements mandatory:
- a study of the contingency fund, which plans for the future costs of major repairs and replacements;
- a maintenance log, which defines the frequency and nature of work to be performed on the building;
- and a certificate on the condition of the syndicate, which must be provided when selling a unit to ensure transparency and accurate information for the buyer.
- Deposits paid by buyers when signing an agreement to purchase a condominium must be held in trust by a notary or lawyer.
The purpose of this legislation is to ensure the long-term sustainability of buildings, protect co-owners, and provide a secure and transparent framework for real estate transactions.
What is a reserve fund study?
The reserve fund study is a financial planning tool.
It allows you to establish an annual contribution plan, ensuring that the association has the necessary funds when major foreseeable work becomes necessary.
Who can conduct a study in accordance with Act 16?
Only engineers, architects, certified appraisers, or professional technologists with the required expertise may produce a study that complies with Act 16.
How much does a study cost in Quebec?
The cost depends on the number of units and the complexity of the building.
On average, the rate ranges from $2,000 to $4,000 for a small standard condominium, but may vary depending on the scope of the mandate.
At Borée, we also offer group rates for neighboring associations with similar structures.
How often should a reserve fund study be updated?
The update must generally be carried out every five years to ensure that the financial forecasts remain accurate and compliant with Act 16.
However, depending on certain characteristics of the condominium, the update of the contingency fund study alone could be carried out every ten years.
What is a maintenance log and what is it used for?
The maintenance log is a tracking document that lists all planned maintenance, inspection, and replacement work on common areas.
It helps the board of directors to plan preventive work, prioritize budgets, and ensure traceability of the work carried out.
The maintenance log also contains technical data on the building, including all components, their lifespans, and their estimated costs.
This information forms the basis for the contingency fund study, enabling accurate financial projections to be made in accordance with Act 16.
What is the difference between a horizontal union and a vertical union?
A horizontal syndicate encompasses several separate buildings on the same property (e.g., rows of condominiums), while a vertical syndicate involves a single multi-story building.
This distinction influences the scope of inspections and the management of common areas.
In the case of a horizontal syndicate, there is often no building under review, but rather common infrastructure such as access roads, parking lots, drainage systems, or landscaping.
Should common areas with restricted use be included in the contingency fund study?
As a general rule, major work on common areas with restricted use (balconies, terraces, windows, etc.) is financed by all co-owners. However, their inclusion in the contingency fund depends on the provisions of the declaration of co-ownership.
At Borée, we assess this point when drafting our studies to ensure compliance with the declaration.
In case of doubt or complex situations, we recommend that the association seek validation of the interpretation from a notary specializing in co-ownership law.
How does a study with Borée work and what is the delivery time?
A study consists of four stages:
- Receipt of information and documents from the syndicate
Collection and analysis of plans, co-ownership declarations, technical reports, and other relevant documents. - Visit to the building by an engineer
Visual inspection of common areas to assess their condition, remaining life, and short-, medium-, and long-term maintenance needs. - Technical and financial analysis
Assessment of replacement costs, projection of expenses, and development of contribution scenarios in accordance with Bill 16. - Delivery of the complete report
Presentation of a detailed report including contribution scenarios, maintenance recommendations, and financial tables.
The average delivery time is approximately 90 days following the visit.
What is the deadline for completing the studies required by Act 16?
Condominium associations have until August 14, 2028, to comply with Bill 16.
This means that they must have a professional conduct the following:
- A study of the contingency fund;
- The maintenance log.
This three-year period, starting from the effective date of the Regulation (Bill 16), is intended to allow all syndicates to comply.
Tip: It is best not to wait until the deadline, as demand for experts will increase significantly as 2028 approaches