Ontario · Condominiums
Condo reserve fund projector.
Enter the repairs your reserve fund study lists, and see whether the fund covers them over 30 years, or whether owners get a special assessment.
An Ontario condo corporation must keep a reserve fund for major repair and replacement of the common elements, and must have a reserve fund study done at least every three years. That study has to include a funding plan projected over at least 30 consecutive years. This tool builds the same year-by-year table from your inputs: each year's opening balance, contributions, interest, inflated repair cost and closing balance. It flags the first year the fund runs out, and solves for the contribution that keeps it at or above zero.
Closing balance = opening + contributions + interest − inflated repair costInputs
Projection
Fill the form and press Project.
What a reserve fund is for
Under section 93 of Ontario's Condominium Act, 1998, the corporation must establish and maintain a reserve fund, used solely for major repair and replacement of the common elements and assets. Owners fund it through their common expense contributions, and interest earned stays in the fund. It pays for roofs, elevators, parking garage membranes, windows and the like. Day-to-day upkeep comes out of the operating budget instead.
How much has to go in
Until the corporation has done its first reserve fund study and put the resulting plan in place, section 93(5) sets a floor: the greater of the amount in subsection (6) and 10% of the budgeted common-expense contributions excluding the reserve fund. After that, section 93(6) says the contribution must be the amount reasonably expected to provide enough for major repair and replacement, based on expected costs and life expectancy of each item. There is no fixed percentage once a study exists, which is why the study drives everything.
The study cycle
Under O. Reg. 48/01 section 31(3), a new study is due within three years of finishing the last one. The board then has 120 days from receiving a study to review it and propose a funding plan (Act, s. 94(8)), and 15 days after proposing it to send owners a summary of the study and plan (s. 94(9)). The alternating study types, comprehensive and updated, are set out in the same section of the regulation.
Why a fund runs short
The usual reasons are visible in the table this tool builds. Contributions that don't rise while repair costs inflate, a large item such as a roof or garage restoration landing in a year when the balance is low, or an item that repeats within the 30 years and was only counted once. When the closing balance goes negative, the corporation has three options: raise contributions, borrow, or levy a special assessment on owners. This tool shows where the first negative year falls and gives your unit's share of it.
Sources, and what is your input rather than a rule
Statutory figures below were read on 29 September 2026. Repair costs, useful lives, inflation and interest rates are not set by law. They come from your study, and the tool uses whatever you enter.
- Condominium Act, 1998, S.O. 1998, c. 19 — s. 93 (reserve fund, 10% pre-study floor) and s. 94 (studies, 120-day plan, 15-day notice)
- O. Reg. 48/01 (General) — s. 27 (30-year, $500 component inventory), s. 29 (contents of a study, 30-year funding plan columns), s. 31(3) (new study within three years)
The tool covers Ontario only. Other provinces set their own reserve fund rules under their own statutes, so do not use these figures elsewhere. Timing convention: a whole year's contribution and repair cost are treated as falling within that year, interest is opening balance times the rate, and no interest accrues on a negative balance. A real study may use different timing, so expect small differences from its tables.
Frequently asked questions
How often must an Ontario condo do a reserve fund study?
Within three years of completing the previous study, under O. Reg. 48/01 section 31(3). A newly created corporation must do its first within the year following registration of the declaration and description.
Is there a minimum reserve fund contribution?
Only before the first study and plan. Then the floor is the greater of the section 93(6) amount and 10% of the budgeted common-expense contributions excluding the reserve fund. Afterwards the contribution must be enough to fund the expected repairs, as set out by the study.
What is the difference between a special assessment and higher condo fees?
Higher fees spread the cost across future monthly contributions. A special assessment is a one-time (or short-term) charge to owners when the fund cannot cover a cost. This tool's shortfall figure is a floor for the first year the fund goes negative, and later deficits would be extra.
Where do I find the numbers for this tool?
In the reserve fund study itself, and in the status certificate. Ask the property manager for the latest study and the board's notice of future funding. The physical analysis lists each component with its cost, expected year and life.
Does this replace a reserve fund study?
No. A study must be prepared by a qualified person and involves a site inspection or update of one. This tool lets an owner or buyer test a study's plan, or see roughly how sensitive it is to a change in contributions or costs.
Disclaimer
This is an estimate only, built from the figures you enter. It is not a reserve fund study, an engineering opinion, or legal advice. Confirm with the corporation's reserve fund study, its status certificate and a lawyer before buying a unit or voting on a plan.