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. After the study is obtained, the board of directors determines the annual contributions with reference to its recommendations and the applicable rules.
The common mistakes of small associations
Chronic underfunding, no study, no plan, decisions made piecemeal. The result: deferred work and decisions made under pressure. A written discipline, grounded in the study, can help reduce these situations.
How Casaforta supports you
We coordinate the study, translate its conclusions for the board, document the decisions and coordinate the annual follow-up under the written mandate; decisions remain with the board. The board keeps a readable plan and documented decisions.
Official sources
The obligations described on this page flow from the Civil Code of Québec and the Regulation establishing various rules concerning divided co-ownership (CCQ, r. 8.01), in force since August 14, 2025: