Partner with Qualified Building Consultants to Strengthen Your Reserve Fund Planning
For condominium owners and board members in Ontario, a Reserve Fund Study (RFS) is about more than just financial forecasting; it is a legislated requirement and a cornerstone of responsible building management. Properly conducted, it provides the roadmap for sustaining your property’s long-term financial health while protecting owners from unexpected costs.
What is a Reserve Fund?
A condominium’s reserve fund is a dedicated account used exclusively for major repairs and replacements of common building elements. Each unit owner contributes through their monthly condo fees, creating a collective financial safety net.
By engaging a qualified consultant with expertise in both financial forecasting and building science, condominium corporations can ensure that their RFS is accurate, comprehensive, and tailored to their building’s unique needs. This protects the property and gives peace of mind to every owner.
What Does a Reserve Fund Study Include?
A Reserve Fund Study covers all major common condominium elements, including roofing systems, windows, cladding, elevators, HVAC, electrical, plumbing and parking structures. Each component is assessed for its current condition relative to its expected life cycle and projected repair and replacement costs are prepared.
In addition to the physical condition assessment of the building elements, condo corporation’s governing documents, financial records, and various legal agreements are also reviewed. This information is combined into a 30-year financial plan that accounts for inflation and potential market volatility, allowing boards to budget and plan strategically.
This planning approach helps minimize the risk of Special Assessments and Emergency Loans. This can protect the owners from sudden financial shocks and high borrowing costs for urgent and essential repairs.
Legal Requirements in Ontario
Under Section 94 of the Ontario Condominium Act, 1998, Reserve Fund Studies are legally required for every condominium corporation, whether they are residential, commercial, industrial or mixed-use.
Class 1: A comprehensive baseline study which includes a physical inspection of the property, document review to verify corporation records, and interviews with the corporation’s representatives.
Class 2: An update to Class 1 study which includes a site visit and is completed every six years.
Class 3: A study without a site visit to update financial forecasts, which must be completed every three years between Class 2 updates.
Regardless of the class, all studies must be carried out by qualified professionals, such as licensed engineers or other regulated building professionals.
Why Reserve Fund Studies Matter
Beyond legal compliance, a well-planned RFS offers significant benefits:
Stable condo fees: By balancing adequacy and affordability, corporations can meet long-term obligations without overburdening owners in the present.
Enhanced property value: A healthy reserve fund improves a condominium’s marketability, appealing to buyers, lenders, and insurers.
Stronger community trust: Transparent planning fosters accountability, ensuring boards act in the best interest of owners.
The Pretium Advantage
At Pretium Engineering, we combine our engineers’ and technologists’ expertise across service areas to deliver Reserve Fund Studies that are both technically rigorous and financially precise. This multidisciplinary approach to RFS ensures that projections remain realistic and funding plans are sustainable. We also work directly with the Property Managers and the Boards to ensure our recommended plan aligns with their goals.
Conclusion
A Reserve Fund Study is not just a regulatory requirement; it is a vital planning tool that safeguards your property, your investment, and your community. By partnering with experienced professionals like Pretium, condominium corporations can confidently prepare for the future and ensure financial stability for decades to come.
Delivering excellence in technical service and solutions starts with a culture of quality
At Pretium Engineering, our team of building scientists, construction professionals, and engineers brings strong technical expertise to every project. Our culture, grounded in five core values, fosters an environment of accountability that is inclusive, rewarding, transparent, and collaborative. This foundation shapes how we work, how we communicate, and how we support one another.
Accountability: The foundation of trust
As a multidisciplinary firm, trust is essential. We rely on each other’s expertise, and our clients rely on us to deliver high-quality work. Establishing a sense of trust both within our teams and with our partners is paramount to maintaining our culture of quality, and the best way to build trust is to be accountable to one another throughout every project, conversation, and decision.
Whether we are conducting site assessments, supporting property managers and owners with reserve fund studies, or handling internal operations. Being accountable to one another helps projects run smoothly and reinforces the reliability Pretium is known for.
Collaboration and inclusivity: Better together
Collaboration is at the core of how we operate. We work best when we can share ideas, solve problems together, and learn from one another. We value being in the office as face-to-face interactions strengthen teamwork, mentoring, and creativity.
We also recognize that everyone brings different backgrounds and perspectives. Inclusivity ensures those voices are heard. We may disagree, but with gentle curiosity rather than judgment. This approach makes our work stronger and our team more connected.
Challenges can arise on any project, including miscommunications or differing perspectives. Rather than allowing issues to escalate, we prioritize addressing them early and constructively.
Transparency is maintained through clear expectations, well-defined roles and timelines, and regular check-ins to ensure alignment. When adjustments are needed, we work collaboratively to resolve them and keep projects moving forward. Clear communication remains central to maintaining focus and delivering successful outcomes.
Recognition and reward: Celebrating wins, big and small
People do their best when they feel appreciated. At Pretium, we make recognition part of our everyday culture.
We foster a culture where contributions are recognized, growth is actively supported, and individuals are empowered to take on leadership roles. Success is shared collectively, reflecting the strength of our team and the value each person brings.
Each month, we recognize team members through our Core Values Awards. These individuals are among the many past recipients of the Core Values Awards:
A culture where people can thrive
We are intentional about how we work together: holding each other accountable, communicating openly, and creating an environment where people feel supported and empowered.
Our culture is collaborative, grounded, and people-first. It’s what helps us navigate challenges, support each other’s development, and stay engaged in the work we do every day.
At the end of the day, Pretium is a place where people can contribute, learn, and build meaningful careers together.
Celebrating leadership and impact with the International Institute of Building Enclosure Consultants
From sponsoring industry conversations to demonstrating leadership at a global level, Pretium staff have been very busy engaging with the International Institute of Building Enclosure Consultants (IIBEC) throughout March 2026.
IIBEC is an international association of building science and enclosure consulting professionals, whose mission is to advance the profession of building enclosure consulting.
We’re proud to share that Pretium’s own Jennifer Hogan has been named IIBEC President, officially stepping into the role during the 2026 IIBEC International Convention and Trade Show in Sacramento last month.
As part of her incoming President’s address at the annual meeting of the members, Jennifer asked members to “…stay engaged. Bring your ideas, your expertise, and your energy to this organization, and help us continue raising the bar for the building enclosure profession together.”
This position reflects the expertise and leadership Jennifer brings to Pretium, where she serves as Project Principal, Director of Marketing, and Leader of our Energy and Carbon Reduction Services. We are proud to see her recognized on an international stage and look forward to the meaningful contributions she will bring to the industry in this pivotal role.
For this project, Jennifer and her project team led a deep energy retrofit of this 43-year-old multifamily tower guided by the EnerPHit Standard. The result was a new building exterior with fresh colours, improved air quality and a more than 60 per cent reduction in energy consumption and greenhouse gas emissions.
It’s rewarding to see this work – a shining example of the potential of deep retrofits – gain international recognition. This project also received a finalist award from the EIFS Council of Canada (ECC) Design Awards in 2025.
The event brought together professionals from across Ontario’s building enclosure and construction industry for an afternoon focused on advancing diversity and inclusion within building sciences.
Pretium was thrilled to sponsor this year’s keynote presentation, delivered by Flonja Shyti, a research council officer with the National Research Council of Canada’s Construction Research Centre.
Pretium was well represented at the event, with several staff in attendance: Jean-Guy Levaque, Jee Young Kim, Ariel Zhu, and Ola Saleh. Saleh and Hogan are also part of the organizing committee and have both been involved since the event’s inception five years ago.
Following the presentation, Jennifer had the opportunity to flex her leadership qualities as moderator for a fireside chat with Flonja, Diana Vitiritti, vice president of international sales at Situra.; Kennedy Whitfield, P.Eng., a building science project manager with WSP Canada; and Dr. Russell Richman, a professor specializing in building science at Toronto Metropolitan University.
The discussion from all the panelist was engaging and insightful, touching on the significance of diverse perspectives in sustainable design, the essential role of diversity in tackling climate challenges, ways to foster inclusive workplaces in STEM fields, and how to attract and support underrepresented groups in building sciences.
Following the fireside chat, attendees were placed into randomly assigned small discussion groups, each led by a pre-assigned mentor. These breakout sessions created an open, supportive space to continue the conversation, dive deeper into key themes, and give participants the opportunity to ask questions, share perspectives, and learn from both peers and experienced leaders.
Pretium’s expertise informing the global building enclosure industry
At Pretium, we are committed to building a company where people are encouraged to lead, contribute and achieve their professional goals, both within and beyond our organization.
Our recent collaborations with, and accolades from, IIBEC prove that when our people thrive, the broader building science community benefits – and that’s something we’re incredibly proud of.
How a Multi-Disciplinary Engineering Team Helps Deliver Successful Projects
When a building owner sets ambitious goals—like cutting energy consumption by more than 50% and reducing greenhouse gas emissions by 85%—those results don’t happen by chance. They require a team of specialists, like a multi-disciplinary engineering team, working side by side, who can tackle every angle of a complex retrofit in-house.
The Power of a Multi-Disciplinary Engineering Team
At Pretium Engineering, we bring mechanical, electrical, structural, building envelope, and energy modelling expertise under one roof. This breadth of capability makes us a true one-stop shop for engineering needs—whether it’s restoration, deep energy retrofits, or new construction.
Instead of juggling multiple firms and consultants, our clients benefit from seamless collaboration. When our teams work together from the outset, we’re able to:
Streamline Project Delivery With all disciplines in-house, communication is direct and ongoing. This avoids the delays of coordinating across external consultants and keeps projects moving smoothly from concept to construction.
Reduce Surprises and Extra Costs Our engineers share a common understanding of the project scope, so design conflicts are resolved early—before they lead to costly change orders during construction.
Deliver Better Long-Term Performance By coordinating envelope and mechanical solutions alongside structural and electrical considerations, we design strategies that improve durability, optimize efficiency, and meet evolving performance standards such as Passive House, B19, and Energy and Water Reporting and Benchmarking requirements.
Simply put, our multi-disciplinary engineering team’s approach means fewer gaps, fewer headaches, and better outcomes.
Case Study: 71 Sanford Avenue, Hamilton
A strong example of Pretium’s multi-disciplinary approach is the deep energy retrofit underway at 71 Sanford Avenue North, a six-storey, 57-unit non-profit housing complex built in 1993. In addition to the residential units (six one-bedroom and 51 two-bedroom suites), the ground floor includes 10 assisted-living rooms leased and operated by others. The building’s total area is approximately 69,500 ft² (6,450 m²), excluding the underground parking garage. Major mechanical systems—including heating boilers, domestic hot water boilers, and a make-up air unit—are housed in a rooftop penthouse, with additional mechanical and electrical spaces located in the basement.
For this project, our team began with a detailed review of all drawings and design documents. Using the IES Virtual Environment software platform, our in-house energy modellers developed a comprehensive whole-building energy model to evaluate a range of energy conservation measures (ECMs). The goal was to identify a package of measures that would achieve the Canada Greener Affordable Housing (CGAH) program requirements: a 70% reduction in site energy use and an 80% reduction in GHG emissions, relative to pre-retrofit performance.
Once a compliant retrofit package was established, Pretium prepared full design and bid documents for the proposed measures. Our role continues beyond design: we are now providing contract administration and construction review services for the construction/implementation of all scopes, ensuring quality and performance are maintained from concept to completion.
Building Better Together
Deep energy retrofits are some of the most technically challenging projects in our industry. Success depends on collaboration across disciplines and a unified strategy from start to finish.
At Pretium, we don’t just coordinate between specialties—we integrate them under one roof. This gives our clients peace of mind, knowing they have a single, multi-disciplinary engineering team managing their project with the technical depth, problem-solving capacity, and accountability needed to deliver exceptional results.
Because in the end, it’s always better when we’re working together.
Engineers Help Building Owners Determine if their Property is Suited for EV Charging Port Installation
As of 2021, the transportation sector was found to emit about 20 per cent of Canada’s total emissions and lowering them will require a rapid adaptation to ZEVs over internal combustion engine vehicles.
In a recent report prepared for Natural Resources Canada, a key finding identified multifamily building as an area of interest to support ZEV adoption. For Canada to reduce its greenhouse gas (GHG) emissions from the transportation sector, while meeting its climate targets, multifamily buildings need to be fitted with charging infrastructure for electric vehicles (EVs) and other zero-emission vehicles (ZEVs).
Canada’s targets are ambitious. In the 2030 Emissions Reduction Plan, the federal government committed to achieving 100 per cent ZEV sales by 2035 for all new light-duty vehicles.
Achieving these targets will require multiple levels of government to not only incentivize the purchase of ZEVs, but to increase access to both public and privately-owned charging stations through a combination of regulations and financial incentives.
Clearing the way for easy ZEV and EV uptake
The federal government has committed $400 million in funding for ZEV charging stations to supply an additional 50,000 public ZEV chargers to Canada’s existing network. Additionally, the Canada Infrastructure Bank is set to invest $500 million in large-scale ZEV charging and refuelling infrastructure.
The Natural Resources Canada report estimates that 679,000 public charging ports will be needed to meet demand by 2040 – that’s a rate of about 40,000 public ports going online per year.
It’s one thing to provide public charging stations, but the same report found the majority of EV owners end up charge at home – and many prefer it that way.
This was no surprise to the Pretium Engineering team. Our mechanical service area lead Jeff Livingstone recently purchased his first EV, and documented his experiences to help inform others exploring EV ownership.
In speaking with some of our team members who own EVs, the feedback was consistent that public charging felt unfamiliar and overwhelming at first. With variations in chargers, charging time, and availability, using public infrastructure was inconsistent at best and frustrating at worst. Not to mention that charging at a home station tends to be cheaper than using a public port.
The latest reports estimate that in order to keep up with Canadian ZEV sales targets,1.6 million parking spaces in multifamily buildings must be retrofitted with charging ports by 2030, and nearly 3.2 million by 2035.
Determining EV charger adaptability for multifamily buildings
At Pretium Engineering, we’ve been working with condo boards, owners, and property management groups to streamline and standardize the process of retrofitting buildings to install EV charging stations.
For existing buildings, the process starts with a site visit and investigation report to document whether the current electrical system and infrastructure can support the installation of EV chargers. This process is informed by a mix of quantitative and qualitative data. Consultants typically include figures from engineering calculations, reports, and gather additional information from stakeholder meetings.
If it is determined that the building is set up to support new EV charging ports, the report will include details on maximum system capacities. The voltage capacity is important, as it determines whether a tenant may propose and install a charger on their own, or if the property owner or manager is required to step in.
If the report determines the building does not have the infrastructure to support new EV chargers, it will include information on possible upgrades that may be implemented in order to move forward with any installations.
Incentivizing the transition from combustion vehicles to ZEVs and EVs
Transitioning Canadians from internal combustion engine vehicles to EVs and ZEVs is integral to Canada meeting its GHG emissions reduction targets where increasing the number of charging ports in multifamily buildings will be an important incentive. In fact, it may make or break their decision.
Building owners and managers have an important role to play in this adoption process, which means they also need incentives to fund and coordinate the installation of EV chargers.
Engineering firms can contribute by adopting standardized evaluation processes, making it easier for multifamily building owners and managers to buy into retrofits that provide charging ports to their tenants.
A Window Into How Pretium Minimized Disruptions While Renovating the Rosedale Glen Condos
There’s no easy way around it – carrying out window wall and other fenestration replacements at a multifamily building, while essential to maintain the safety, energy efficiency, and aesthetics of multifamily buildings, can be disruptive to property managers, condo boards, and especially residents.
That’s how Pretium Engineering managed our window wall replacement program at the Rosedale Glen Condos, a then 40-year-old development near Mt. Pleasant Road and Rosedale Valley Road in Toronto, Ontario.
This post will explore the details on how we kept residents in place and managed the budget while conducting a complete replacement program throughout the building’s two towers.
1. Understanding the Assignment Before Taking Action
A solid understanding of the project requirements is integral to minimising disruptions due to work. This preparation goes far beyond the typical reserve fund study (a high-level look for the purposes of capital planning) which is insufficiently detailed to adequately plan for such large capital undertakings.
A component specific condition assessment was undertaken to take a deep dive into the condition of the windows to understand their current condition and unique problems to develop a site-specific repair plan, associated budget forecast and building out of replacement timelines.
This process is best completed a minimum of five years before the scheduled replacements to provide time for capital contributions of the building residents to be modified to suit the budget forecast input into the buildings reserve fund plan. Due to site-specific concerns, this process needed to be accelerated which required effective communication between the residents and condo board to swiftly implement the replacement program.
To reduce potential for future project delays, we did not limit our interior review of the window system to a handful of suites. We reviewed all of the condos’ 180 suites, examining the state of sliding doors and window walls. We identified the existing insulation system and how it interacted with the original glazing system, made from aluminum-framed window walls with a combination of fixed insulated glazing units and single pane horizontal sliders.
This information was valuable during the design process but proved invaluable during the construction process. A true understanding of the assignment to work within an occupied residential building requires an understanding of each unique suite. Reviewing all suites prior to the work created a database of unique conditions (cabinets in front of windows, mirrors adjacent windows, custom trim work, etc.) which were communicated with the contractor early to reduce costly delays.
Once this thorough investigation was complete, we determined that we would need to remove and dispose of all existing windows, doors, spandrels, interior drywall at the jambs, ceiling finishes at the head, flooring at sills, and accessories. Additionally, we identified unique conditions which would have a significant impact on project cost if not given due consideration during the design process.
For example, the original window system was an early version of a curtain wall system. Changing the building to a window wall system, as necessitated by site conditions and budget, provided unique challenges which needed to be appropriately managed to achieve project schedule, budget, and long-term performance.
Armed with information, we designed a renovation program to install new aluminum-framed systems at all windows, doors, and spandrels within the existing residential building.
2. Managing and Communicating Expectations
The process of assessing the building took time, but it was this exploratory period that allowed us to accurately forecast project costs and plan the job in such a way to minimize disruption to residents, a primary constraint of the building stakeholders.
At Pretium, we intentionally design replacement programs around minimizing resident disruption. To achieve this goal, we coordinated with the contractor to schedule and phase the work so that we replaced all elements within a suite concurrently. Through simultaneous work, access periods and associated disruption to each suite was minimized. Such scheduling is important, yet difficult to achieve and requires foresight and diligent execution by the project team to navigate roof anchor limitations, power supply, security, and other practical considerations.
With the help of property management, an information session was held with building residents to communicate expectations of the project early. Residents were further informed about impending renovations on a week-by-week basis, communicating regularly as the program progressed to allow each Suite to prepare accordingly.
Through effective communication leading up to the time of replacement, once the contractor knocked on their door, the suite was prepared for a window replacement and the suite resident made plans to vacate the suite for the day. The process was optimized to keep each resident out of the suite for one day with the suite always habitable at the end of each workday: no inconvenience of costly offsite lodging requirements for the residents. Through concurrent window and sliding door replacements, each suite was limited to a 10-working day window from the moment the contractor knocks on the door to the time they say their goodbye to a finished interior.
This communication system prepared the stakeholders for a dynamic schedule that evolved as complications arose – and they always will. A successful project is one which can accommodate the unexpected. Examples of situations which required accommodation were changing access and mobilization area limitations, concealed slab edge conditions with a dash of a global pandemic for good measure. Execution of such a technically complicated project which required the aging population of the building to safely vacate the suites during periods of COVID, all while maintaining the pre-COVID budget is perhaps the greatest testament possible for effective communication.
3. Working Smarter, Not Harder
As the financial authority, the condo board’s main concern for this project was associated costs keeping the required special assessment for the residents reasonable. Pretium takes a realistic financial outlook for any of our projects; it would be a disservice to all parties to underestimate the project costing even if this leads to difficult conversations. Pretium manages expectations by requiring the board to allocate contingency allowances or prepare to access condo reserves if circumstances require the budget to increase.
The long-term performance of any window system directly depends on how the window is tied into the adjacent building elements. The conventional tie-in details for these window systems would require the removal of all balcony railings and the existing brick adjacent to the windows which would carry a cost of several million dollars.
Through smart, well conceived detailing, Pretium was able to develop tie-in details to allow for tie-in to adjacent systems which remained in place without sacrificing long-term performance. By working smarter, Pretium was able to make this program financially viable for the residents of Rosedale Glen.
4. A Winning Window Replacement Strategy
Over the course of three COVID-filled years, the project team completed approximately 4,080 m2 of window wall, door, and accessory replacements throughout the Rosedale Glen Condos.
Through our developed fenestration renovation program, we effectively increased the building’s thermal performance, improved air tightness, and reduced annual energy costs. Past complaints of thermal discomfort during the shoulder seasons have been addressed and the interior aesthetic was significantly improved leading to positive impacts to resale values and quality of life for the residents of the building.
Methodical preparation and constant communication allowed us to keep property managers abreast of developments. It also helped us to find cost savings while improving the exterior aesthetic of the building – a delight to all, but especially, to the condo board.
We kept residents happy and in their homes both during and after the work was carried out. This is always an important consideration made more significant considering execution during a global pandemic. Surveys completed after the upgrades found that residents had an improved sense of comfort in their suites – the highest praise we could expect for a job well done.
However, the efficiency of mechanical and electrical systems is only part of the puzzle. Building envelopes are becoming a major focal point of modern sustainability efforts, as air tightness can have a significant impact on a building’s energy efficacy. Ensuring optimal building performance (harmony between the envelope and HVAC systems) avoids unnecessary carbon production, which is a win for the environment and anyone looking to lower their utility bills.
In service of reaching these sustainability goals, experts are developing and fine-tuning energy conservation standards and model codes to set air-tightness targets, and recommending testing be carried out to verify building performance.
Increasing Air Tightness Standards and Incentives
Architects and engineers are increasingly setting project-specific air tightness targets and integrating air leakage testing into commissioning plans, in line with both mandated and voluntary building standards.
The National Energy Code of Canada for Buildings (NECB) is a federal model code that sets out standardized minimum technical requirements for energy-efficient design, retrofits, and new construction in Canada. Provinces and territories may adopt the NECB as is or make modifications to create their own specific codes. Either way, the aim is to have all new buildings constructed to net-zero energy ready standards by 2030.
ASHRAE, Passive House, and Canada Green Building Council are some of the national and international bodies that provide the voluntary building standards commonly used in Canadian development. Depending on where your building is located, there are business and financial incentives available to building owners and property managers who certify that their building’s air tightness, among other efficiency considerations, are in line with these standards.
That begs the question: how do we measure the air leakage?
Methods for Air Leakage Testing
Whole building air leakage testing is one way to test whether a building is meeting its energy performance goals and can be completed by trained professionals, like the engineers at Pretium! Guided by standards like ASTM E779-10, our professionals use blower doors to pressurize the building and quantify how much air escapes through cracks, joints, and penetrations in a building’s envelope.
The results set a baseline and offer designers, builders, and owners a measurable way to verify the performance of their buildings, whether new or retrofitted.
Infrared thermography, used during or after testing, simplifies air tightness troubleshooting while minimizing disruptions to building occupants.
Long-term Benefits of Air Tightness Building Performance
Ensuring airtight construction can save property owners, managers a substantial amount of money in energy savings. Studies estimate that improving air tightness can reduce heating and cooling energy consumption by 25-40 per cent, depending on the building type and location.
In a large commercial building, this can translate into tens of thousands of dollars in annual savings. Tighter buildings reduce the load on HVAC systems, extend equipment lifespan, lower maintenance costs, and create a more comfortable environment for occupants.
As more jurisdictions move toward mandatory airtightness testing, and designers adopt performance-based goals, tools like whole building air leakage testing and infrared thermography are becoming essential in quantifying results.
Together, these technologies help builders and owners meet regulatory requirements while driving energy savings, improving occupant wellbeing, and reducing carbon footprints, one building envelope at a time.
