How Davinci Engineering Helps GTA Condos Manage Their Reserve Funds
Your condo’s Reserve Fund is your financial safety net. But without the right planning and professional support, it can be difficult to ensure you’re on track. At Davinci Engineering, we provide expert Reserve Fund Studies and ongoing support to condo boards and managers across the GTA.
In this blog, we’ll highlight how Davinci Engineering supports condo corporations in maintaining healthy reserve funds.
Legal Requirements for Reserve Funds in Ontario
Ontario’s Condominium Act, 1998, Section 93 requires:
- A reserve fund study every three years
- An adequately funded reserve account for major repairs
- A 30-year funding plan developed by a licensed engineer or architect
Non-compliance risks legal and financial penalties.
Insurance Requirements for Firms Performing Reserve Fund Studies
At Davinci Engineering, we maintain comprehensive insurance coverage for your peace of mind:
- Professional Liability Insurance (Errors & Omissions): Protects against study inaccuracies.
- General Liability Insurance: Covers bodily injury or property damage during site visits.
- Workers’ Compensation: Ensures employee coverage during inspections.
Commercial Auto Insurance: For vehicles used during site visits.
How Davinci Engineering Supports GTA Condo Boards
1. Expert Inspections & Assessments
Our licensed engineers conduct thorough building inspections using state-of-the-art tools to assess current conditions and predict future needs.
2. Customized Funding Plans
We tailor every funding plan to your specific building. No cookie-cutter solutions—only realistic, sustainable financial strategies.
3. Proactive Maintenance Strategies
Our reports go beyond financial projections. We help you develop proactive maintenance plans to extend your building components’ life and minimize future expenses.
4. Regulatory Compliance
We ensure your Reserve Fund Study meets all Ontario Condominium Act requirements, helping you avoid liabilities and penalties.
5. Ongoing Support We don’t stop at delivering the report. Our team is available for ongoing consultation, helping you implement recommendations and adjust your plan as your building evolves.
Let’s Protect Your Condo’s Future
Davinci Engineering has helped countless GTA condos secure their future through comprehensive Reserve Fund Studies and ongoing engineering support.
Contact us today to learn how we can help you manage your reserve fund with confidence.