With the implementation of the new regulation published on September 11, 2024, it has become mandatory for each syndicate of the co-ownership to periodically conduct a study of the contingency fund.

Our engineering firm offers a comprehensive analysis and evaluation service for your contingency fund, ensuring the sustainability of your building while meeting regulatory requirements.

The contingency fund study aims to establish the necessary annual contributions to this fund, taking into account the replacements and major repairs to be carried out in the building's common areas.

This study allows for realistic and preventive planning of the required investments, thus avoiding unforeseen special contributions and ensuring a fair distribution of costs between successive generations of co-owners.

The execution of a contingency fund study must be entrusted to a qualified professional.

This professional can either be a member of a professional order (such as the Ordre des ingénieurs or the Ordre des architectes du Québec) with expertise in management, construction, renovation, or property inspection, or a member of the Ordre des comptables professionnels agréés du Québec, provided they maintain independence from the co-ownership.

Our firm brings together experienced professionals capable of conducting this study in compliance with the criteria set by the regulation.

The contingency fund study includes a systematic assessment of the long-term financial needs for the maintenance, repair, and replacement of the building's common areas.

It includes, in particular, an estimation of the costs for each major intervention planned over the next 25 years, as well as a recommendation on the amount to be maintained in the contingency fund and the necessary annual contributions.

This study must be updated at least every five years to adapt to the building's new realities and any potential changes to the work plans.

By turning to the MGB Québec team for the execution of the contingency fund study, you benefit from a comprehensive and precise analysis conducted by experienced and independent professionals.

This study is essential to ensure a realistic budget and plan future work transparently, without unnecessarily burdening the co-owners with excessive charges.

With our expertise, you can approach the future of your co-ownership with peace of mind, knowing that your contingency fund is tailored to your real needs and compliant with the new legal requirements.