In 2024, two-thirds of Ontario condo corporations devoted more than 30% of their total budgets to reserve funds, a clear signal that long-term planning can’t be ignored. Understanding how reserve funds work is the foundation of a stable, well-managed condo. Neglect them, and owners face surprise levies, strained trust and declining property value.
With Yardi Breeze Premier, boards and managers can take that planning further, tracking contributions, improving transparency and giving owners the confidence that their community’s future is protected.
What Is a reserve fund?
Reserve funds (also known as contingency funds or depreciation reports, depending on the province) are legally required financial accounts for major repairs and capital replacements.
While requirements vary by province, the examples below reflect some of the most common regulatory approaches across Canada:
- Ontario: Reserve fund studies are required every three years under the Condominium Act, 1998.
- British Columbia: A depreciation report is required every five years, unless waived by a 75% vote, under the Strata Property Act.
- Nova Scotia: Reserve fund studies are mandatory every five years for condo corporations with 10 or more units.
Regardless of the specific requirements, the principle is unanimous: underfunding and poor management of reserve funds places properties, and their owners, at financial risk.
How Breeze Premier helps:
- Set up a dedicated reserve fund general ledger (GL)
- Automate contributions and track fund usage over time, for both compliance and visibility
Transparency builds trust
Communication gaps and financial opacity are frequent sources of conflict between condo boards and owners.
- At a 2025 Canadian Condominium Institute (CCI) Huronia event, experts noted that many reserve fund studies now underestimate the true cost of repairs due to construction inflation, making transparent planning and reporting more important than ever.
How Breeze Premier helps:
- Owner Portal: Give owners a centralized place to access community documents, updates and communications
- Automated financial report packets: Reporting of fund balances and transactions delivered directly to owners in standardized formats
- Cloud-based document sharing: Securely store and share reserve fund studies, maintenance plans, budgets and more, directly with board members
Better-informed owners are more likely to trust board decisions and accept necessary budget adjustments or levies.
Proper planning reduces special assessments
Inflation and rising construction costs are fueling shortfalls, and special assessments are on the rise.
How Breeze Premier helps:
- Align contributions with long-term capital plans
- Track actual vs. planned expenses for maintenance and improvements
- Leverage historical data for more accurate future planning
By anticipating stakeholder’s needs and funding them appropriately, boards minimize the likelihood of unexpected assessments and the friction they generate.
Breeze Premier: Your tool for smarter reserve fund management
Yardi Breeze Premier is designed for condo managers managing reserve funds:
- Separate reserve fund GLs and reporting categories
- Automated contributions via scheduled entries or owner billing
- Drill-down dashboards offering a real-time snapshot of reserve fund health
- Customizable reports perfect for board meetings, audits and Annual General Meetings
Building a better future together
By combining legally compliant reserve fund planning, streamlined finance tracking and transparent reporting, boards, owners and property managers can protect their community’s long‐term value.
Ready to explore how Breeze Premier Condo simplify reserve fund management? Join our on-demand webinar now and learn how you can manage your condo/strata properties.
