Standards we follow in the preparation of your Reserve Fund Study:
NLD Consulting prepares Reserve Fund Studies to the legislated requirements of the Manitoba Condominium Act, based upon a 30 year reserve period. The Reserve Fund Study will comprise a detailed analysis completed to the Real Estate Institute of Canada (REIC) guidelines and the Appraisal Institute of Canada (AIC) standards where applicable, including CUSPAP (Canadian Universal Standards of Professional Appraisal Practice) content under the Reserve Fund Study Standard.
Further, the Reserve Fund Study will conform to the International Reserve Study Standards of the Association of Professional Reserve Analysts (APRA). The Report will be completed as a Functional Reserve Fund Study, which is the format and methodology used by Certified Reserve Planners (CRPs) as designated by the REIC. This format meets and exceeds the Reserve Fund Study requirements of the Manitoba Condominium Act, brought into force on February 1, 2015 and as amended to date.
The Reserve Fund Study will comprise a physical and financial analysis. Additionally, a minimum of three funding model examples and cash flow tables will be included. In order to complete the report, we will require various documents and access to the subject property. The timeline for preparation and completion may be affected significantly by the timely availability of the documents, which are described fully under the Typical Required Documents Checklist.