The purpose of a Depreciation Report is to determine what the provision of resources should be for major repairs and replacements of building components and improvements, or common elements, over time to ensure adequate funding of all future capital expenditures when required. D.R. Coell & Associate’s Functional Reserve Fund Study is a step-by-step report that incorporates clear explanations, comprehensive physical and financial analysis and valuable tools to assist clients in understanding and implementing effective reserve fund strategies.
Let D.R. Coell & Associates help you and your Strata Property owners in British Columbia understand the process of undertaking a Depreciation Report, the benefits of a well planned out Contingency Reserve Fund, and the risks associated with an inadequate Capital Plan.
All reports prepared by D.R. Coell & Associates exceed the requirements under the Province of British Columbia’s Strata Property Act, including the Strata Property Amendment Act, 2009. As a Certified Reserve Fund Planner (CRP), the report will be prepared in accordance with guidelines set out under the Real Estate Institute of Canada, which is known as having the most advanced reserve fund planning (depreciation report) system in Canada. As an Accredited Appraiser of the Canadian Institute (AACI P.App.), reports also exceed the requirements under the Appraisal Institute of Canada’s, Canadian Uniform Standards of Professional Practice and will therefore be fully covered under the association’s errors and omissions insurance.