Published September 8, 2019. This article reflects the rules and conditions at the time of writing and may not be current — always confirm against the latest provincial legislation.
In Canada, laws governing the development, sale and management of condominiums fall under provincial jurisdiction, so each province sets its own rules for reserve fund studies and depreciation reports through a Condominium Property Act or equivalent.
Alberta
A reserve fund study is required every 5 years and must outline a capital replacement budget. (Note: the required horizon was extended from 25 to 30 years under the 2019 revisions to the Act.)
Condominium Property Act — Alberta →
Ontario
A reserve fund study is required every 3 years and must outline a capital replacement budget over a 30-year timeline.
British Columbia
A depreciation report is required every 3 years and must outline a capital replacement budget over a 30-year timeline.
Strata Property Act — British Columbia →
Saskatchewan
A reserve fund study is required every 5 years and must outline a capital replacement budget.