Improve cashflows and deepen your reserve fund.
Approximately 35% of annual maintenance fees are allocated to your reserve fund for future repair and replacement projects.
We review reserve funds daily, and in our experience most reserve funds do not accurately forecast future financial requirements, leading to significant shortfalls. This is evidenced by a continuous "catch-up" cycle, resulting in unplanned maintenance fee increases.
In most cases, reserve funds also do not take into consideration the strong Federal greenhouse gas (GHG) emission reduction requirements, which require buildings to eliminate natural gas burning equipment and increase electricity capacity.
Reservoir's suite of services are designed to help you have enough funds available to upgrade building systems to meet the changing environmental regulations.
Reserve Fund Health Check
Low-cost service that provides an overview of the current forecasted financial health of your reserve fund.
Our Reserve Fund Health Check™ examines:
Upcoming scheduled projects.
Reserve fund cashflows for the next 3 years.
Interest and inflation rates used in your reserve fund calculations.
If you are earning the interest estimated in your reserve fund, and the impact if you don’t.
Investments – GICs
Reservoir is a registered deposit broker with access to fully-insured financial institutions to provide high-rate GICs. Our goal is to provide you with a plan to yield the highest potential return on investment to keep your reserve fund actively earning for you.
We advise on the best combination of investments. We will review the GICs from your current broker and those from our roster of financial institutions to provide you with the highest rate of return.
Reservoir is a member of the Registered Deposit Brokers Association. (#29559)
Today's Top GIC Rates
We offer flexible loans, customized to your needs.
From building envelope to roof replacements, our condo loans spread the cost of the upgrades over their lifetime. To get started, we can provide you with a no-obligation term sheet for planning your projects.
Major Repairs and Replacements
Balcony, Window and Door Restoration
Parking Garage Restoration
Elevator Repair and Replacement
Reserve Fund Replenishment
Additions and alterations
An addition or alteration can be made without notice to the owners if in the opinion of the board it is necessary to maintain security and safety of property or assets and is less than the lesser of 3% of the annual budget and $30,000.
Condominium Atc, 1997 – 97 (5)
Refinancing of Developer Assets
In some instances, the developer of a new building retains ownership of various assets for sale to the condo at the time of its registration subject to taking back a mortgage for their payment.
Our financing relationship with Morrison Financial allows us to offer competitive rates for your reserve fund projects and building upgrades.
Let’s Work Together
Schedule your free financial consultation today!