by genispec | Apr 1, 2026 | Facade, News
A facade inspection is not only about meeting a regulatory requirement. It is also about identifying real risks before they turn into major repairs, special assessments, or a safety hazard for the public. Under Bill 122, this process also helps condo boards better...
by genispec | Mar 12, 2026 | News
TL;DR – What You Need to KnowInflation makes long-term financial projections for a reserve fund uncertain over time.A reserve fund based on outdated assumptions can become underfunded even if contributions have been maintained.The main risk is an unexpected special...
by genispec | Jan 26, 2026 | News
TL;DR – Key takeaways A building’s lifespan depends less on its age than on the quality of its planning. Hidden anomalies accelerate deterioration and drive long-term costs. A reserve fund study based on the actual condition helps prevent special assessments....
by Genispec | Dec 22, 2025 | News
Key takeaways Hidden defects in recent buildings mainly result from fast-paced execution, insufficient quality control, and fragmented construction teams. These concealed issues directly threaten the value of condominiums and create unexpected funding needs. A...
by Genispec | Nov 20, 2025 | News
Key Takeaways The long-used rule of contributing 5% of the annual operating budget to the reserve fund no longer reflects current conditions. It doesn’t consider inflation, unexpected repairs, or the real state of building components. The result often includes special...
by Genispec | Oct 21, 2025 | News
Key Takeaways Banks and insurance companies now require detailed engineer reports, not just visual inspections. They expect: a clear assessment of the building’s condition, a structural diagnosis signed by an engineer, and a 10 to 25 year budget forecast. Reasons:...
