Ontario reserve study requirements
By the REcollab team, built by civil engineers. Last verified July 8, 2026.
Ontario has one of the most established reserve fund regimes in North America. Section 94 of the Condominium Act, 1998 requires every condominium corporation to conduct a reserve fund study and update it every 3 years, and section 93 makes reserve contributions mandatory. Even so, the Ontario Auditor General found 69% of Ontario reserve funds underfunded, and the average special assessment is $3,525 per unit.
At a glance
| Statute | Condominium Act, 1998, ss. 93 and 94; O. Reg. 48/01 |
|---|---|
| Who is covered | Every Ontario condominium corporation |
| Update cycle | Every 3 years |
| Study classes | Comprehensive study, then updates alternating with and without site inspection (O. Reg. 48/01) |
| Who can perform | Prescribed professionals under O. Reg. 48/01, including professional engineers and architects |
| Funding rule | Contributions mandatory; fund must be adequate per the study |
| Regulator | Condominium Authority of Ontario (CAO) |
| Reality check | 69% of Ontario reserve funds underfunded (Ontario Auditor General) |
What the Act requires
Every corporation must conduct a reserve fund study before the deadline set at registration and update it every 3 years. Studies follow a class system under O. Reg. 48/01: a comprehensive study, then updates that alternate between site-inspection and non-inspection years. Contributions to the reserve fund are not optional; the corporation must collect what the study says the building needs.
The 3-year gap is the real problem
The statute produces a study every 3 years, but costs, interest rates, and the building's actual spending move every year. By the time the next mandated update arrives, boards routinely discover the projections no longer match reality, which is how 69% of corporations end up underfunded despite full legal compliance. A study that stays current between the mandated updates closes that gap, and the mandated engineer inspection then happens on top of numbers that are already right.
Getting the next update done without the usual cycle
REcollab generates the study from documents the corporation already has, in about an hour, at roughly 40% less than a traditional engagement, with licensed engineer review where the class of study requires it. One 11-unit Ontario condo caught a $132,000 funding gap years early and phased contributions instead of assessing owners.
Frequently asked questions
How often is a reserve fund study required in Ontario?
Every 3 years under section 94 of the Condominium Act, 1998. Studies follow a class system: a comprehensive study, then updates alternating between site-inspection and non-inspection years.
Who can perform an Ontario reserve fund study?
Professionals prescribed by O. Reg. 48/01, including professional engineers and architects. Site inspections are required for comprehensive studies and inspection-year updates.
Are reserve fund contributions mandatory in Ontario?
Yes. Section 93 of the Condominium Act requires the corporation to collect contributions so the fund is adequate per the most recent study. Despite this, the Ontario Auditor General found 69% of reserve funds underfunded.
Sources: Condominium Act, 1998, s. 94 (Ontario e-Laws), O. Reg. 48/01 (Ontario e-Laws), Condominium Authority of Ontario.
This page summarizes the law for boards and managers; it is not legal advice. We re-verify each region against primary sources and date every revision.
Get your Ontario study done.
Engineer-reviewed reserve study in about an hour, from documents you already have, matched to Ontario's rules.
Book a Demo