Glossary · Legal & insurance
What is Reserve fund?
A reserve fund is money a condo or strata sets aside for major future repairs and replacements.
Definition
Also known as: Contingency fund
Part of your condo fees goes into the reserve fund, which pays for big-ticket items like roofs, elevators, or windows. A healthy reserve fund signals a well-managed building.
Before buying a condo, reviewing the reserve fund and its study helps you avoid surprise special assessments down the road.
When reserve fund matters
- Assessing a condo's financial health
- Avoiding surprise special assessments
- Comparing buildings before buying
With Homeprint
How Homeprint helps with reserve fund
Homeprint keeps your condo documents organized so you can review them anytime.
- Keep every related document in one secure place
- Track your home's value and finances over time
- Stay connected with trusted neighbourhood experts
Reserve fund — FAQ
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