Reserve Fund Studies

Ergil & Jackson Appraisals conducts Reserve Fund Studies for the condominium market, as well as for other property types. The division is lead by experienced and qualified reserve fund planners Colin Jackson, CRP and Shey Ergil, MBA, AACI, CRP, both of whom are certified reserve planners through the Real Estate Insitute of Canada. We have conducted residential and commercial condominium reserve fund studies throughout Edmonton and area as well as other areas including Calgary, Red Deer, Lethbridge, Stettler, Cold Lake, Lac La Biche, Fort McMurray, Yellowknife, Saskatoon, and Regina.

We also offer reserve fund studies for not-for-profit and private organizations such as churches, charitable groups, and foundations.  The logic of reserve fund studies applies to any property, whether it is a condominium or not.  Having a long-term budget is helpful to the management of any property.

To request a quote or for more information call or e-mail:

Shey Ergil: (780) 442- 6636 or This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Colin Jackson: (780) 486- 4757 or This e-mail address is being protected from spambots. You need JavaScript enabled to view it

WHO WE SERVE

Our clients come from a wide variety of stakeholders, and Ergil & Jackson has the flexibility and experience to meet the specialized needs of each.

• Residential and Commercial Business Condominiums

• Property Managers

• Investment and Holding Companies

• Not-for-Profit Groups and Associations

• Condominium Conversions

• Real Estate Agents

ABOUT RESERVE FUND STUDIES

What are they? Reserve Fund Studies are long-range budgeting tools intended to ensure that when major replacements and repairs of building components need to be done, the funding will be there. Based on current costs and forecasted future costs, a 25-year funding strategy is put in place to meet future costs. In this way, Reserve Funds are similar to the idea of pension funds.

Who needs them? Every condominium corporation that isn't operated solely as a rental property needs a Reserve Fund Study by legislation in many provinces. In Alberta, the governing legislation is the Condominium Property Act. Boards of brand new buildings have two years to have it completed.

Those who intend to convert existing apartments into condominium units will need the Reserve Fund Study prior to sale of units and, in many cases, as a prerequisite for lending institutions.

Having a reserve fund study is also an excellent idea for those who manage or own any type of building.  A reserve fund study can help you plan for the future by providing a useful budget for long-term costs associated with property upkeep.

How often? In Alberta, Reserve Fund Studies must be updated every five years. We recommend the studies also be updated every two to three years due to rapidly changing economic conditions.