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In Quebec, section 39 of Bill 16 was passed and now requires condominiums to have a contingency fund study in order to maintain the integrity of the building and its main components. The purpose of this contingency study is to prepare a report detailing planned spending in the short, medium and long term. Provides funding for replacement and major renovations. Provides funding for replacement and major renovations.
This law also requires that a contingency fund study be done every 5 years and that a maintenance book be put in place.
Contingency study is a process that requires experts to properly assess the actual condition of the building and multi-step maintenance needs:
Once all of these steps have been completed, the contingency fund study is presented to the union for comment before a final version of the study is obtained.
Qualitam’s team is specialized in estimating the costs of rebuilding or replacing new residential, commercial, industrial buildings, etc.
The purpose of this mandate is to establish the insurance coverage of the building so that it is sufficient to rebuild it in the event of a disaster, in compliance with the requirements set out in Bill 141. This amount is determined by a member of the Ordre des évaluateurs agréés du Québec and evaluated every five years.Get more information