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LChoy · 01-10-2022, 11:22 AM

I'm on the board for our townshouse complex (80 units) and we've been really lucky so far. For a complex built in the 70s, there has never been a special assessment in our history. At least for Ontario, we have to have an Engineering study and a Reserve study every 3 years to plan out the major repairs and updates. We have a a healthy reserve fund and I'm pretty good with the budgeting to avoid any special assessment in our future. However as mentioned above, all it takes is one completely unexpected incident to throw all of the planning and budgeting out the window

LChoy

01-10-2022, 11:22 AM	#141
LChoy First Line Centre Join Date: Feb 2007 Location: Toronto Exp:	I'm on the board for our townshouse complex (80 units) and we've been really lucky so far. For a complex built in the 70s, there has never been a special assessment in our history. At least for Ontario, we have to have an Engineering study and a Reserve study every 3 years to plan out the major repairs and updates. We have a a healthy reserve fund and I'm pretty good with the budgeting to avoid any special assessment in our future. However as mentioned above, all it takes is one completely unexpected incident to throw all of the planning and budgeting out the window LChoy __________________