What is the contingency fund?
It is the reserve set aside for the major repairs and replacements of the common areas (roof, façade, balconies, elevator…). It is distinct from the day-to-day operating budget and belongs to the condominium.
How is it funded?
Through the co-owners' contributions. Bill 16 now ties the level of contribution to the contingency-fund study: you contribute according to a 25-year plan, rather than at random.
The common mistakes of small associations
Chronic underfunding, no study, no plan, decisions made piecemeal. The result: deferred work, eroding value, blindsided co-owners. A little discipline avoids all of it.
How Casaforta supports you
We coordinate the study, translate its conclusions for the board, document the decisions and handle the annual follow-up. The fund stops being a source of anxiety.