DUE DILIGENCE INSPECTIONS
A Capital Replacement / Reserve Fund Study is a requirement for every residential, commercial, and industrial Condominium Corporation in the Province of Ontario. This study will contain immediate and anticipated capital repair costs; as well as, replacement and services costs budgeting over the life of the building.
Similarly, every new condominium in Ontario requires a Performance Audit before its first year is complete, to review for design deficiencies relative to the common elements of the building with respect to the Building Code of record. A Performance Audit will typically also include a review of a representative sample of units.
MGA will assist owners and investors in evaluating properties by creating Capital Replacement / Reserve Fund Studies and Performance Audits, as applicable, with respect to fire and life safety Code requirements. This study will include assessing the condition of existing fire protection and life safety systems for your building, and preparing a cost estimate breakdown for anticipated repairs for budgeting purposes.
To contact a Code specialist about conducting a due diligence inspection for your facility, contact us today.