State building inspection and provident fund

In the case of a building condition inspection The building engineer of Onesta:

1- Performs a visual inspection that consists of checking all visible components of the building.

2- Determine what is the current state of these components and prepare a certificate of building status.

In his report, the engineer issues his recommendations for the necessary correction, maintenance or replacement work. This is to prevent premature deterioration of the elements. In general, The rapport inspection building status must contain the following:

  1. A description of the components and equipment of the property;
  2. A list of deficiencies identified in these components and equipment;
  3. The consultant's advice on the cause of each problem and his recommendations for action;
  4. A method that prioritizes the work to be done and advises persons in authority of deficiencies that may threaten the safety of the public.

Major repairs or replacement

The building inspector then estimates the cost of major repairs or component replacement. Finally, he produces the report of the provident fund.

This contingency fund must be adjusted every 5 years, because in reality, the life of the components may be different from that which has been calculated theoretically. Replacement costs are variable over time. For example, a badly installed French drain may be clogged and not functional, only after a few years, even if the theoretical life is approximately 30 years. Also, an asphalt and gravel roof can be damaged, after 8 years, because of a lack of regular maintenance despite the fact that the theoretical life is 20 years.

Finally, a sufficient reserve of money in the syndicate's account is essential for the necessary maintenance work on the building. This is to avoid the inconvenience, for the co-owners, of having to pay a special contribution. Despite the contingency fund, it may still be necessary to levy a special contribution to make a major repair, but it is less burdensome to Condo owners.

Provident fund

Provident fund

The useful life (or longevity) of building materials (CMHC)
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