Common Element Corporation Performance Audit & Comprehensive Reserve Fund Study

Birchcliff Village Urban Towns - Scarborough ON

Toronto Common Element Condominium Corporation No. 2759 c/o Sterling Karamar Property Management
Project Scope
  • Performance Audit and Comprehensive Class 1 Reserve Fund Study.

The Challenge

Townhouse condominium where management expressed uncertainty regarding what is considered common element and unit owner responsibility. Several fire and life safety, mechanical and landscaping deficiencies were reported. The Corporation had no Tarion warranty coverage.

Enter Edison

We were retained to complete an on site Performance Audit of the building's common element areas including sprinkler room, service room, parking garage, and roof maintenance stairwell. We reviewed property documents and legal survey to determine boundaries of the shared facilities, and compiled a detailed list of deficiencies in accordance to relevant codes and requirements.

Additionally, we carried out the Corporation's first Reserve Fund Study, providing a comprehensive expenditure and funding plan to start the Corporation off on the right foot.

The Payoff

The Corporation now has a well documented list of deficiencies and supporting audited report to work with the developer to resolve outstanding issues, with Edison's support!