The parking garage is usually the largest single item in a condominium's reserve fund study — and the section board members find hardest to read. Here is how to make sense of it, and how to turn it into a plan rather than a worry.
- A reserve fund study plans for the major repair and replacement of common elements and assets. The garage figures in it are planning estimates.
- Look for three things in the garage section: the component, the timing, and the basis of the cost estimate.
- Items flagged for the near term deserve a condition survey before anyone tenders them.
- Deferring garage work rarely saves money — deterioration compounds.
What a reserve fund study is for
In Ontario, a condominium's reserve fund pays for the major repair and replacement of common elements and assets — not for improvements. The reserve fund study is the plan that tells the board how much to set aside each year so the money is there when components wear out.
Studies are prepared by qualified professionals under the Condominium Act and its regulations. The first is a comprehensive study; after that the plan is updated periodically, with some updates based on a site inspection and some without. After receiving a study, the board proposes a plan for future funding and notifies owners.
What to look for in the garage section
The components
Garages are usually broken into several line items rather than one. Expect to see some combination of:
- Concrete repairs to suspended slabs, ramps, columns and beams
- Traffic deck membranes or protective coatings
- Expansion joints
- Drainage — drains, slopes and trench drains
- Line painting and signage
The timing
Each item has a year attached. Items in the next few years are the ones to act on; items further out are what the funding plan is building towards. If several garage items cluster in the same window, that is usually a sign they should be delivered as one phased project.
The basis of the estimate
Check how the cost was derived. A figure based on a visual review is a broad allowance. A figure informed by testing or a previous survey is tighter. Neither is a price — both will move once the concrete is measured properly.
Urgent, or next cycle?
Engineers use different wording, but the message usually falls into one of three buckets:
- Safety or immediate items — loose concrete overhead, exposed and corroded reinforcing, or anything that could fall. These are not reserve-fund planning questions; they need attention now.
- Near-term repairs — active deterioration that will grow if left. Commission a condition survey and plan the project.
- Monitor and plan — items that are ageing but stable. Keep them on the inspection schedule and in the funding plan.
The cheapest garage repair is the one done before it doubles in size.
Boards are understandably tempted to push near-term items out a cycle to protect the fund. With concrete garages that usually backfires: chloride-driven corrosion does not pause, and a repair deferred is typically a bigger repair later.
Turning the study into a project
- Ask your engineer to scope a condition survey for the near-term garage items.
- Group related items — concrete, membrane, joints and drainage — so they are delivered once, in phases.
- Talk to contractors early. A restoration contractor can comment on phasing, access and seasonality before the tender is issued.
- Keep the close-out records. As-builts, photos and warranties from each project make the next study more accurate.
