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At Genispec, we know how important it is to keep your building in top shape, which is why we want to talk to you about reserve fund studies. First things first: did you know that having a reserve fund or contingency fund is a legal obligation for condo buildings in...

Bill 16 was created to preserve the integrity of condominiums in the long term and protect condo owners. In 2023, the provision regarding the execution of reserve fund studies is expected to be put into effect. This means that from the date of implementation of this...

The reserve fund study, also known as a contingency fund, is a detailed report of all repairs required and planned within a given time period to keep your residence up to code. It must include the physical and functional integrity of all the elements of your building,...

What is Bill 122 and why was it created? The RBQ created Bill 122 to ensure owners have their multi level parkings and building facades inspected at least every five years by a member of the Ordre des Ingénieurs du Québec. The purpose of the inspection being to...

Why require a reserve fund study for condos? Other than the fact that it is mandatory as per Bill 16, there are many other reasons that performing a reserve fund study is beneficial for condominium owners. The main purpose is to ensure that appropriate funds are...

What is Law 122? Law 122 was put into place by RBQ in 2013 to ensure the facades of residential buildings and commercial buildings of 5 storeys and more are safe for tenants and passersby. With law 122, the facade (or exterior) of the building must be inspected upon...

It’s 2022, have you created Quebec’s mandatory asset management plan? In January 2020, Bill 16 was adopted to regulate building inspection and co-ownerships in Quebec with the hopes of creating more transparency between board directors, condo developers...

Commercial and Industrial Building Inspection, Why Is it Important? As the owner of a commercial and industrial building, the safety of the people who use your building is surely your priority. According to the Régie du bâtiment du Québec (RBQ), it is, in...

According to certain provisions of Bill 16 which came into effect January 10, 2020, all syndicates of co-owners (boards of directors for condominium associations) are obliged to conduct a reserve fund study every five years. The study must be carried out by a...