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How to establish and manage a reserve fund for your condominium?
The management of a condominium involves many responsibilities, and one of the most important is undoubtedly the establishment of a condo reserve fund. This fund is essential to cover the costs of major repairs and maintenance that inevitably occur over time on your...
Critical Differences: Commercial and Industrial Property Inspections Unveiled
What are the differences between commercial and industrial property inspections? Firstly, it's essential to understand that there are two types of pre-purchase inspections offered to entrepreneurs. This makes perfect sense, given the diversity of commercial...
What you need to know about the reserve fund study in 2024
In 2024, the reserve fund study is mandatory! Bill 16 was established to preserve the physical and functional longevity of components in a condominium. Starting in 2023, the obligation to conduct a reserve fund study (also called a reserve fund study) came into...
Partnership Between Genispec and HPDG: A Strategic Collaboration
Collaborating with experts to meet your condominium management needs Genispec has established a strategic partnership with HPDG, a property management company that also offers appraisals, known for its commitment to rigor and integrity in property evaluation and...
What Is Bill 16 And What Are Its Implications?
What Is Bill 16 And What Are Its Implications? Bill 16, a relatively recent piece of legislation, partially came into effect on January 10, 2020, signifying an important development in the realm of property and construction regulation. One of its standout provisions...
Ensuring the integrity and long-term protection of your condominiums: The importance of reserve fund studies in Quebec
At Genispec, we understand the importance of maintaining your building in top shape. That's why we want to highlight the significance of a reserve fund study in protecting buyers and owners of shared properties in Quebec. Let's delve into the value of these studies...
Bill 16: Enhancing Oversight and Protection in Quebec’s Building Sector for potential buyers
On December 11, 2019, a momentous step was taken to improve the regulation of building inspections and co-ownership in Quebec with the adoption of Bill 16. This legislation introduced a range of measures aimed at strengthening oversight, enhancing protection for...
Understanding the Impact of Quebec’s Bill 16: Changes in Building Inspections and Divided Co-ownership
Bill 16 was adopted on December 11, 2019, and proposes various measures to regulate building inspections and co-ownership in Quebec. Here is an overview of some of the changes you need to be aware of.What are the changes introduced by Bill 16? Thanks to Bill 16, new...
The importance of a reserve fund study
The reserve fund study, also known as an asset management plan, has become essential for condominium associations since the implementation of Bill 16 in January 2020. This study involves detailed assessments of a building's condition and the estimation of costs...