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Reserve Fund Studies Aren't Enough: Why a Targeted Pre-Design Assessment Saves Condo Corporations Money

Writer: City Sites Property Management
City Sites Property Management
Mar 18
2 min read

A reserve fund study is a legal requirement and a useful long-term funding and component-planning document. It should not automatically be treated as a detailed diagnostic assessment of every individual system. Because reserve-fund projections are estimates, boards may wish to obtain more detailed project-specific condition and pricing information as major work approaches.


Hands with magnifying glass and pen inspecting blank papers on a desk, suggesting focused document review

In City Site’s podcast “Ontario Fire Code Changes Condo Boards Need To Know in 2026” with Sam Soltani of The Trace Group, we discuss exactly why a targeted pre-design assessment can improve major fire safety and building-system decisions, alongside other reserve planning, project scope, and avoiding costly surprises. The podcast explains why a long-range reserve plan does not always provide enough detail for a complex project.


Its practical perspective helps boards see when a focused assessment can reduce uncertainty before design, tendering, and construction begin. Check out more information about this podcast here: #WeSpeakCondo podcast


What a Reserve Fund Study Actually Provides

The reserve fund study provides the corporation's required long-term reserve-funding framework. Its level of investigation differs from a detailed system-specific assessment, which may be appropriate for a major component nearing repair or replacement. The study should not be dismissed as a "bare minimum".


What a Targeted Assessment Adds

A targeted or pre-design assessment focuses on one system in greater detail. It may examine actual condition, remaining life, repair-versus-replacement options, compatibility, and project scope. In the fire-alarm context, repair, hybrid, and full-replacement options can differ substantially in cost depending on devices, wiring, and existing-system condition.


Assessment fees vary by building, system, and consultant. A detailed assessment may reduce scope uncertainty and improve bid comparability, but savings are project-specific and should not be guaranteed. Boards should obtain a written scope and fee proposal before budgeting for this work.


When to Commission One

A targeted assessment is worth considering when a major replacement is approaching, when a contractor reports a deficiency the board cannot price confidently, or when the board needs more detailed condition information before tendering. The timing should be based on the project and reserve-fund planning cycle rather than a universal two- or three-year trigger.


Spend Small, Bid Smart, Fund Accurately

Piggy bank and coin stacks on a red desk while a person writes beside a laptop and coffee cup, suggesting budgeting.

The governing principle is sequencing: understand the system, define the project, obtain comparable pricing, and integrate updated information into reserve-fund planning. A reserve fund study provides long-term planning estimates, while a targeted assessment can add project-specific detail. Contact City Sites Property Management to discuss coordination needs and request a proposal.


For a deeper discussion of why a targeted pre-design assessment can improve major fire safety and building-system decisions, listen to the full #WeSpeakCondo episode with Sam Soltani of The Trace Group. The conversation adds useful perspective on reserve planning, project scope, and avoiding costly surprises, and is a helpful companion to this article.




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