What is a Reserve Fund Study?

A Reserve Fund Study Report assists Condominium Corporations in determining the contributions to be made to the Reserve Fund in order to meet future repair and replacement expenses.

To complete this study a visual review of the complex is conducted, a review of recent repairs and replacements and reports are obtained from our various contractors. Based on the site conditions observed and the reports obtained, we determine the expected remaining life and then estimate replacement costs based on this information and our experience as Alberta's largest property management company.

Donald C. (Don) Davies, President and C.E.O.

Don Davies is the President of Condominium First Management Services Ltd. and has been actively involved in the management of Condominium Corporations since 1978.

He has completed over 300 reserve fund studies for various Condominium Corporations and Developers in Alberta, British Columbia and Saskatchewan.

The following are the qualifications of Mr. Davies to carry out the Reserve Fund Study and prepare the Report.

Mr. Davies is a Certified Reserve Planner (CRP), 2001, holds a Bachelor of Commerce degree, University of Calgary 1978, Certified Property Manager (CPM), 1981, A Fellow of the Real Estate Institute of Canada (FRI), 1980, is a Certified Management Accountant (CMA) 1989, and is Accredited with the Condominium Institute (ACCI), 1986.

Don is a past Director and Executive Member of the Canadian Home Builders' Association (CHBA) – Calgary Region. He served as the President of the Association in 2006/2007. Don is a current Member of the Condominium Committee of CHBA, past Director of the CHBA – Alberta Region, past Chairman of the Multi-Family Council of the CHBA and past Director of the Calgary Chapter of the Real Estate Institute of Canada.

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