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 and condo owners. Per Bill 16, an asset management plan (also known as a reserve fund study) must be conducted every five years by the syndicate of co-owners to ensure sufficient funds are available for future building maintenance in order to preserve the condition of real estate. If you are a member of a co-ownership that existed before Bill 16 that has never put together an asset management plan, one must be created no later than 3 years after the first regulation made according to those articles comes into force. As per new regulations set in January 2020, the reserve fund study must be complimented by a building maintenance handbook. Both the study and the building maintenance handbook should be conducted by a certified professional such as an engineer. Read on to learn more about the building maintenance handbook.
What is a building maintenance handbook?
A building maintenance handbook is a document that includes the history and description of the condo or building in question. The building maintenance handbook should include the date of construction or renovation of the building, the technical description, a history of important projects and their dates of completion, the date of receipt of the building and the contact information for all companies that performed work on the building. As per Bill 16, the implementation of the building maintenance handbook is supposed to make property management easier and more efficient. If you live in an older building or condo and have yet to perform an asset management plan or do not have a building maintenance handbook in your possession, this is an opportunity to learn about the history of your building. Additionally, if there is a repossession of your building by another owner, the building maintenance handbook will allow for a more seamless transition as they will be aware of planned work and important building information.
What is Included in the Genispec Building Maintenance Handbook?
The Genispec building maintenance logbook has the following items:
- Information on the condominium;
- Information on the current syndicate as well as the management company (if applicable);
- List of documents in the possession of the syndicate as well as technical studies and important works carried out to date;
- List of applicable service contracts;
- Five-year maintenance schedule;
- Monthly maintenance log.
Need a building maintenance handbook? Call on Genispec!
Based in Montreal, Genispec offers high quality building inspection and consulting services as well as project management. Our engineers, members of the Ordre des ingénieurs du Québec, specialize in the inspection of several types of buildings, including condominiums, commercial and industrial buildings.
Our engineers are equipped to answer your questions and help you inspect your buildings, create your asset management plan and your building maintenance handbook. We offer our services in the Montreal metropolitan community, including Hampstead, Saint-Laurent, Mont Royal, Laval, Longueuil, Brossard, West Island, Kirkland, and more. Contact us for any questions you have in mind or if you would like to know more about our wide range of inspection services.