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Blog > Buying a Condo in Montreal? Why the Reserve Fund Study Matters
Buying a Condo in Montreal? Why the Reserve Fund Study Matters
What Quebec’s new condo law means for buyers
By Natalia Belyaev · Residential Real Estate Broker, RE/MAX Action Montréal
If you’re looking at a condo in Montreal, one document I want you to pay close attention to is the syndicate’s reserve fund study. It’s not exciting reading, but it can tell you a lot about the building you’re considering, and about costs that might be coming your way after you move in.
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QUICK ANSWER Since August 14, 2025, every condo syndicate in Quebec must have a maintenance logbook and a reserve fund study, renewed every 5 years. Natalia Belyaev, residential broker at RE/MAX Action Montréal, helps buyers read these documents before they buy a Montreal condo. Call 514-947-8863 or visit nataliabelyaev.homes. |
What is a condo maintenance logbook in Montreal?
A maintenance logbook is a detailed record of a building’s condition. It lists every common area, its age, its condition, and the repairs planned for the next 25 years.
A licensed professional has to prepare it. This can be an engineer, a chartered appraiser, an architect, or a professional technologist (Government of Quebec). The board of directors must update it every year, and it needs a full review at least every 5 years, or every 10 years for smaller buildings with 8 units or less. This logbook tells you if the roof, the plumbing, or the elevator is close to the end of its life.
What is a reserve fund study, exactly?
A reserve fund study calculates how much money the syndicate needs to set aside each year for major repairs down the road.
It’s built on the data from the maintenance logbook (Government of Quebec). It must be renewed every 5 years by a licensed professional, such as an engineer or a chartered professional accountant. Before this reform, many syndicates just stuck to the legal minimum, 5% of common expense contributions under article 1072 of the Civil Code (Légis Québec). That floor is often too low for an older building. The study gives a real number, based on the building’s actual needs, not just a minimum.
Why did Quebec create this rule?
The Quebec government created this rule to protect buyers and avoid nasty surprises after closing.
The new regulation took effect on August 14, 2025 (Government of Quebec). Syndicates have until August 15, 2028 to get their first maintenance logbook and their first reserve fund study. Many buildings in Quebec underfunded their reserve for years. The result: condo fees have doubled over the past decade in the province (APCIQ, via La Presse). The law is meant to force better planning before problems show up.
Does the reserve fund always cover the work that’s needed?
No, not always. If the study shows the fund is too low, the board must adjust contributions, but it has up to 10 years to rebuild the fund.
If money is short for urgent work, the syndicate can ask every owner for a special assessment. That can run into thousands of dollars, payable in one lump sum or spread over several months. That’s why a buyer should never just look at the reserve fund balance. You need to compare that balance to the work listed in the maintenance logbook. A building with a big fund but an old roof and old plumbing isn’t necessarily safe.
What documents should I ask for before buying a Montreal condo?
Ask for the syndicate’s attestation on the state of the co-ownership, the maintenance logbook, and the reserve fund study, before you sign an offer.
The syndicate must hand over this attestation within 15 days of a request (Government of Quebec). It shows the current fund balance, contributions paid over the last 3 years, this year’s budget, major work planned for the next 10 years, and any ongoing lawsuits. I always review these documents with my clients before we write an offer on a condo.
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BY THE NUMBERS
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THE BOTTOM LINE A beautiful condo can hide a syndicate that isn’t ready for the future. Always ask for the maintenance logbook and the reserve fund study before you buy, not just the fund balance. If you’re looking at a condo in Montreal or Griffintown, I can help you read these documents and ask the right questions. Visit nataliabelyaev.homes to get started. |
Frequently Asked Questions
Q: Do all Montreal condos need a maintenance logbook?
A: Yes. Since August 14, 2025, every divided co-ownership syndicate in Quebec must have one, no matter the building’s age or size.
Q: What happens if the reserve fund is too low?
A: The board has to raise contributions, with up to 10 years to rebuild the fund. A special assessment is still possible in the meantime if urgent work comes up.
Q: Can I ask for these documents before making an offer?
A: Yes, and it’s strongly recommended. You can also request the syndicate’s attestation, which the seller must obtain within 15 days of asking.
Q: Does a big reserve fund mean the condo is a good buy?
A: Not necessarily. You need to compare the fund balance to the work planned in the maintenance logbook to know if it’s actually enough.
Read Quebec’s Condo Regulation
Natalia’s Take
When you’re buying a condo, it’s easy to focus on what you can see: the kitchen, the floors, the view. I want you looking behind the scenes too. A beautiful condo in a poorly prepared syndicate is a very different purchase than a plainer condo in a building that’s planned ahead. My job is to help you see that bigger picture before you sign anything.
Thinking about buying a condo in Montreal or Griffintown? Let’s go through the documents together before you make an offer.
Considering a Condo in Montreal?
I can help you understand the building, the syndicate’s documents, and the questions worth asking, so you can make an informed decision without feeling rushed.
Ask Natalia About Buying a CondoSources
- Government of Quebec — maintenance logbook, reserve fund study and attestation rules, effective date and deadlines
- Légis Québec — Civil Code of Quebec, article 1072, 5% minimum reserve fund contribution
- APCIQ — median condo price, Montreal metropolitan area, April 2026
- La Presse, reporting an APCIQ study — condo fees doubling over 10 years in Quebec
- Soumissions Copropriété — estimated price range for a reserve fund study
