Engineer-prepared Class 1, 2 and 3 reserve fund studies with realistic 30-year funding plans — keeping your corporation compliant with the Condominium Act and your fees predictable. Serving condominium corporations across the Greater Toronto Area and all of Ontario — including Ottawa and Kingston.
With GTA construction costs rising 10–15% per year on major components like windows, garages and roofs, an outdated or generic reserve fund study is the most expensive document your corporation owns. Ours are built on current local pricing — component by component.
We physically inspect your common elements, review your corporation's records and maintenance history, and build a cost model your board can defend to owners.
Ontario's three-year cycle alternates study types. We handle all three, and we take over cleanly from a previous provider's study when boards want a second opinion or a change.
Section 94 of the Condominium Act, 1998 and sections 27 to 33 of Ontario Regulation 48/01 set out the whole obligation. Most boards know the three-year rule and nothing else — and the deadlines that follow the study are the ones that get missed.
Every Ontario condominium corporation is on the same statutory clock, measured from the registration of its declaration and description.
Receiving the report is the start of a sequence, not the end of one. These three dates are where boards most often fall out of compliance.
The classes are not tiers of quality. They are different scopes, and the cycle assumes each one builds honestly on the last.
The inventory is built from nothing: every common element and asset identified, quantified and assessed on site, with remaining service life and replacement cost established component by component. Everything that follows for the next thirty years rests on this document. It is the one study worth over-investing in.
The engineer returns to the building, re-assesses condition against the previous inventory, and revises service lives and costs on what has actually changed. Deferred work, completed work and newly visible deterioration all get picked up here.
No site visit. The update is built from record verification and interviews with management and the board. It is legitimate and it is cheaper — but it inherits every assumption in the study before it.
A Class 3 cannot catch what a Class 3 cannot see. If a component was missed or mispriced in the original Class 1, that error is carried forward and re-inflated at every update until someone physically walks the building again. Corporations that have run several updates without a serious re-inspection are the ones most likely to be surprised. If your funding plan has never been challenged by an engineer who actually attended the site, it is worth commissioning a comprehensive study regardless of where you sit in the cycle.
Two proposals for the same building can differ by thousands of dollars and produce funding plans that disagree by six figures over thirty years. Price alone tells you almost nothing. These are the questions that separate them.
Any engineer who is confident in their methodology will answer all six in writing. Reluctance on the first question is the one that should concern you most.
The single choice that decides whether your funding plan survives contact with the first real tender is the pricing basis. A study built on a national average cost table will look reasonable and price your garage rehabilitation like it is somewhere else.
Boards facing a sharp contribution increase usually assume someone mismanaged the fund. Far more often, four ordinary things happened at once.
None of them require anyone to have done anything wrong. All of them compound quietly between studies.
It defers it. The shortfall reappears as a special assessment — usually larger, usually at the worst possible moment, and frequently while units are being sold. Buyers, their lawyers and their lenders all read the status certificate and the reserve fund study. A corporation with a credible, engineer-defended funding plan is easier to sell a unit in than one with an optimistic study and a looming assessment.
Wondering what a study should cost? We wrote the guide nobody else publishes: What Does a Reserve Fund Study Cost in Ontario?
Send us your building's address, unit count and last study date — we'll respond with a fixed fee within two business days. Serving all of the GTA and Ontario.
Get Your RFS Quote →The most complete and professional reserve fund study we have had.
Under the Condominium Act, 1998, every Ontario condominium corporation must complete a comprehensive (Class 1) reserve fund study within the first year after registration, then update it at least every three years — alternating between updates with a site inspection (Class 2) and without (Class 3). Your board must review the study and implement a funding plan within 120 days of receiving it.
Ontario regulations limit reserve fund studies to designated professionals, including professional engineers. HexoTech holds a Certificate of Authorization from Professional Engineers Ontario (PEO), and every study is prepared and reviewed by licensed engineers — not technicians.
Fees depend on the building's size, age, and complexity — a Class 3 update for a small corporation costs far less than a Class 1 comprehensive study for a large high-rise with extensive mechanical systems. Contact us with your building details for a fixed-fee quote within two business days.
Typically 4–8 weeks from the site inspection to the final report, depending on building size and the condition of your corporation's records. We can present the findings to your board and owners as part of the engagement.
An underfunded reserve leads to special assessments or borrowing — and increasingly, difficulty for owners selling units, since buyers and lenders review reserve fund status. A realistic, engineer-prepared funding plan spreads costs predictably and protects property values.
They answer different questions and are required at different times. A performance audit is a one-time Tarion requirement for newly registered condominiums, conducted between 6 and 10 months after registration, to identify construction deficiencies the builder is responsible for repairing under warranty. A reserve fund study is an ongoing Condominium Act requirement that projects the cost of major repairs and replacements over thirty years and sets the contribution needed to pay for them. A new corporation needs both in its first year, and the audit findings should inform the study.
Yes. There is no requirement to stay with the firm that prepared your previous study, and boards commonly change providers when they want the funding plan independently tested. We take over cleanly from another provider's work — we review the existing inventory and assumptions rather than accepting them, which is usually where a second opinion earns its fee.
The obligation is statutory, so a lapsed study puts the corporation out of compliance with the Condominium Act and will be noted by your auditor. The practical exposure matters more than the technical one: if owners later challenge a contribution increase or a special assessment, a board that cannot point to a current, professionally prepared study is in a materially weaker position. Treat the three-year date as hard and start the procurement several months ahead of it.
No — the board proposes the plan for future funding, and it may differ from the study. But if it does differ, the notice sent to owners must state where and how. That transparency requirement is deliberate: a board can depart from its engineer's recommendation, but it has to do so in the open, in writing, to the people paying for it.
Yes. We work with condominium corporations across Ontario, including Ottawa, Kingston, Hamilton, London, Waterloo Region, Barrie, Niagara and Durham Region. For corporations outside the GTA we schedule site work in blocks to keep travel out of the fee, and we price multi-property portfolios together for management companies.
Serving the Greater Toronto Area & Ontario
Toronto • North York • Scarborough • Etobicoke • East York • Mississauga • Brampton • Vaughan • Richmond Hill • Markham • Thornhill • Aurora • Newmarket • Stouffville • King City • Oakville • Burlington • Milton • Halton Hills • Pickering • Ajax • Whitby • Oshawa • Caledon — plus Hamilton, Ottawa and communities across Ontario.
