Ontario condominium boards should commission the study class required by their study history and applicable rules, then compare provider qualifications, component assumptions and funding scenarios. Class 2 includes a site inspection; Class 3 does not, so the class follows the study sequence rather than the lowest price.[1] 
Confirm the required study before requesting bids
The Condo Authority of Ontario describes a Class 1 study within the first year after registration, followed by alternating Class 3 and Class 2 updates at least every three years.[1] Check the corporation’s prior study and have an appropriately qualified adviser confirm the current assignment.[1]
Class 2: update with a site inspection
- Fieldwork: The update includes a site inspection.[1]
- Information base: The Condo Authority of Ontario says it incorporates many comprehensive-study requirements under section 30(2) of Ontario Regulation 48/01.[1]
- When to specify it: when the corporation’s sequence calls for a Class 2 update. Disclose material changes since the last study and ask which investigations fall outside the inspection.
Class 3: update without a site inspection
- Fieldwork: No site inspection is performed.[1]
- Information base: The Condo Authority of Ontario describes record review and interviews with the corporation’s directors, employees and agents.[1]
- When to specify it: when the sequence calls for a Class 3 update; it does not replace a Class 2 update that is due.[1]
Every proposal should identify the study class, explain why it fits the assignment and price any additional work separately. It should also state whether anyone will attend the property, what the attendance includes and which information will come from records and interviews.
Start with the Ontario framework
The Condo Authority of Ontario says a condominium corporation’s reserve fund is maintained solely for major repairs and replacements of common elements and assets. Periodic studies assess whether the fund and owner contributions can support expected costs.[1] The CAO also says the first study is due within the first year after registration of the declaration and description.[1]
Procure the study as a financial planning tool: it estimates future repair and replacement costs, and actual timing and amounts can differ.[1][2]
Define comparable report deliverables
Issue one deliverables schedule for every bidder. The Appraisal Institute of Canada’s general content list includes:
- a common-property inventory;
- observed condition, actual and effective age, and remaining economic life;
- present and future replacement costs;
- the required reserve level;
- the current reserve balance and historical contributions; and
- funding models.[2]
This is general Canadian guidance, not proof of Ontario compliance. Ask bidders to map their report sections to the Ontario framework identified by the CAO and explain every omission or modification.[1][2]
The proposal should identify information to be supplied by management and assumptions involving component ages, remaining life, costs, balances and contribution history. It should also name the funding approaches to be presented. AIC identifies Baseline, Threshold, Statutory and Fully-Funded models.[2] Ask for sensitivity scenarios showing how cost or timing changes would affect contributions and the risk of a special assessment.[2]
Specify whether the price includes a draft report, review process, final file, board presentation and revisions. Ask bidders to mark each deliverable as included, optional or excluded and price options separately.
State technical exclusions
AIC characterizes a reserve fund study as a financial planning guide, not a technical audit. Detailed technical matters and invasive testing are not inherently addressed.[2] A proposal to assess components should not be read as including investigations outside the stated scope.
Ask each bidder for a written exclusions list and an explanation of how unresolved conditions will be handled. The proposal should answer:
- Will the report identify the uncertainty, its planning significance and any assumption used?
- Will the provider recommend a separate investigation?
- Is written approval required before additional costs are incurred?
- Will extra work have a fixed fee or a separately quoted price?
- Will new technical findings be incorporated into the study, and is that revision included?
Obtain these terms in writing.
Check Ontario terminology and eligibility
The Condo Authority of Ontario identifies the provincial framework as the Condo Act and Ontario Regulation 48/01.[1] If a bidder uses different legislative terms, ask it to identify the Ontario provisions the study will address.
Terminology on marketing pages varies. Accent Building Sciences Inc. (ABSI), for example, refers on its Ontario page both to the Condominium Act and its study classes and to a “Condominium Property Act” and “Condominium Property Regulation”.[6] Where a bidder’s materials use more than one set of legislative names, ask it to confirm in the proposal which Ontario provisions the study will follow.[1]
Keep the study and its consequences distinct: the CAO describes the study as an assessment of whether the reserve fund is adequate, while AIC treats a special assessment as a possible funding outcome.[1][2]
Each bidder should identify the Ontario provisions governing the assignment, explain its eligibility under section 32 of Ontario Regulation 48/01 and provide documents supporting claimed qualifications.[1]
Screen providers for Ontario work
ABSI advertises Ontario reserve fund studies, but its webpage alone does not establish the assigned professional’s eligibility, contract terms or independent performance.[6] Quebec-focused providers, such as those whose pages describe compliance with Quebec’s Law 16, are not an Ontario shortlist.[3][5]
Request the name and credentials of the person responsible, relevant Ontario experience, conflicts and proof of appropriate insurance. Have the eligibility checked against section 32 of Ontario Regulation 48/01, identified by the CAO. Membership in another province’s professional body should not be assumed sufficient.[1]
Normalize price, schedule and contract risk
No published Ontario price list was found, so request each item directly.
- Total fee: Ask for the tax treatment and separate prices for the base study, meetings, added site attendance, travel, specialist input, technical investigations and revisions. Identify circumstances that could increase the fee.
- Schedule: Request anticipated dates for the start, information requests, site inspection where applicable, draft report and final delivery.
- Quote validity: Ask how long the price remains open and what could trigger repricing.
- Payment and cancellation: Compare payment triggers, cancellation charges, suspension rights and charges for completed work.
- Insurance and liability: Obtain proof of insurance and written warranty, exclusion and liability-cap terms.
- Delay: Ask what happens if an agreed milestone is missed.
Keep a clarification log and require written answers before scoring proposals.
Shortlist and award on documented terms
Before scoring, confirm that each proposal identifies the study class, addresses the Ontario framework, supplies eligibility evidence, responds to the deliverables schedule and discloses technical and commercial exclusions.
Score compliant proposals using the same categories, such as scope completeness, relevant experience, methodology, schedule, price clarity and contract risk. Record the corporation’s chosen weights and resolve verbal assurances through written clarifications.
Before award, ensure the contract incorporates the accepted proposal, deliverables, exclusions, fee, payment milestones and negotiated terms. The defensible choice is the provider whose documented scope and contract fit the corporation’s needs—not the bidder with the shortest service description or lowest unexplained fee.
References
- Reserve Funds and Reserve Fund Studies – Condo Authority (condoauthorityontario.ca)
- Understanding reserve fund studies – Appraisal Institute of Canada (aicanada.ca)
- Reserve Fund Study | Compliance with Law 16 (2026) | Free quote (genispec.com, 2025)
- Your study is now mandatory. (condostrategis.ca)
- Reserve Fund Studies Ontario | Accent Building Sciences Inc. (absi.ca)
