Financial Resilience Through Reserve Fund Studies

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.

Reserve Fund Studies are legally required for every condominium corporation.

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.

There are 3 classes of RFS:

  • 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.

If you would like to learn more about RFSs at Pretium, check out this Featured Project at 1005 King Street W and 1 Shaw St, Toronto: https://pretiumengineering.com/projects/1005-king-street-w-1-shaw-st-toronto/.

Published on April 24, 2026

Stronger Teams, Better Outcomes: The Pretium Approach to Workplace Culture

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.

Transparency: Clear communication, stronger results

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:

Nav Budhwa - At Pretium Engineering, we make recognition part of our everyday culture.
Stephen McEween - We foster a culture where contributions are recognized, growth is actively supported, and individuals are empowered to take on leadership roles.
Steve Krysa - At Pretium Engineering, our team of building scientists, construction professionals, and engineers brings strong technical expertise to every project.
Violet Cotton - Rather than allowing issues to escalate, we prioritize addressing them early and constructively.

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.

Published on April 17, 2026

Pretium’s Jennifer Hogan named IIBEC President

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.”

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.

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.

We’re equally proud to share that, at the same conference, Jennifer received an Excellence in Building Enclosure Consulting Award in the exterior walls category for her work on the Raymond Desmarais Manor Deep Energy Retrofit.

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.

Creating space for meaningful conversation

Earlier in the month and a little closer to home, Pretium was proud to sponsor the IIBEC Southern Ontario Chapter’s Fifth Annual Diversity & Inclusion Building Science Forum, hosted in Toronto on March 4, 2026.

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.

Published on April 1, 2026