Reserve Fund Study Preparation Checklist for Alberta Condo Boards

A Reserve Fund Study is easier to scope when the condominium board and manager can explain what the corporation owns, which major repairs have happened, and what work may be coming next. This practical checklist helps you gather useful information before approaching a study provider.

You do not have to create perfect records before asking for a proposal. Start with what exists, note gaps, and let the provider tell you what is needed for your property's particular buildings, site and shared systems.

1. Find your most recent study and reserve fund plan

If available, gather the last Reserve Fund Study report, the board-approved reserve fund plan, relevant updates, and the dates they were completed or approved. These establish the previous component inventory and funding assumptions. Identify any major changes since that report, rather than assuming the older scope is still complete.

Alberta's guidance states that condominium corporations must engage a study provider and that the board approves a reserve fund plan based on the study. Studies must be completed at least every five years, with an initial study and plan generally required within two years of registration. See Alberta's reserve fund guidance and our study timing guide for context.

2. Prepare a simple property and component overview

A short summary helps the provider understand the likely inspection and analysis scope. Where possible, include:

• Condominium corporation name, property address and a board or manager contact.
• Number and general type of buildings, plus notable shared spaces or amenities.
• Site plans, drawings or an existing inventory of common-property components.
• Known shared roofs, exterior elements, paving, drainage, mechanical systems and other major capital assets, as applicable.
• Any changes to the property since the previous study, including major additions or replacements.

This is a planning aid, not an exhaustive statutory document list. The components included in a particular study depend on the property and the agreed scope.

3. Summarize repairs, replacements and upcoming projects

Compile the significant work completed since the last study and the work currently being discussed. Invoices, contractor reports, warranty details, project dates and previous condition assessments can help show what changed and why. A straightforward timeline is useful even when records are incomplete.

Separate confirmed projects from proposed projects. A board's wish list, an engineer's recommendation, a signed contract and completed work are not the same thing; clearly label each so a study provider can assess it appropriately.

4. Identify the financial planning context

Have the most recent reserve fund balance, existing reserve fund plan, and relevant financial or contribution assumptions ready for a private discussion. If the corporation has approved major capital projects, identify their approximate timing and funding status. Your provider can specify which statements and projections are required for the study.

A Reserve Fund Study supports long-term repair and replacement planning; it does not itself replace the board's responsibility to consider funding choices and approve the reserve fund plan. Alberta also requires corporations to prepare an annual reserve fund report for owners. For a quote, see our guide to Reserve Fund Study costs in Alberta.

5. Plan the site visit and information handoff

Choose a contact who can coordinate documents, questions and safe access. Before the visit, identify locked rooms, roofs, mechanical spaces, gates, keys or escorts that may be relevant to the agreed study scope. Flag known safety or access limitations instead of assuming all components can be inspected on demand.

Send sensitive financial records and building access details through an agreed private channel, not in a public website comment or general social media message. Our private enquiry page is the starting point for discussing a tailored scope—not an instruction to publish confidential documents.

Questions to ask before engaging a study provider

What property information should we send for a quotation?

Start with the condominium address, approximate number and type of buildings, available previous study, and anticipated timing. Ask the provider which documents and site details will affect the scope and fee.

Do we need to wait until every record is complete?

No complete-document rule is implied by this checklist. Explain what records exist and which do not; the provider can advise how that affects the assessment, deliverables and proposed engagement.

Who approves the reserve fund plan?

Under Alberta's published guidance, the condominium corporation's board approves the reserve fund plan after receiving the study report. The study and the board's funding decisions are related, but not interchangeable.

How should we evaluate proposals?

Compare the property and components covered, inspection approach, assumptions, report deliverables, schedule, qualifications and fee. A low fee may reflect a different scope. Read our professional judgment guide for additional considerations.

Kalham Consulting Ltd.

Practical reserve fund planning support for Alberta condominium communities. This checklist is general information, not legal or project-specific professional advice.

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