asset management plan: WHATS IS THE LAW 16?
The term “asset management plan” includes the contingency fund study, the maintenance log and the building condition report.
In Quebec, since January 10th, 2020, article 39 of Bill 16 (2019, chapter 28) stipulates that: “Every five years, the syndicate of co-owners must obtain a study of the contingency fund establishing the necessary sums and if this fund is sufficient to cover the estimated cost of major repairs and replacement of common parts. […]
The sums to be paid into the contingency fund are set on the basis of the recommendations made during the study of the contingency fund and taking into account changes in the co-ownership, in particular the amounts available in the contingency fund.”
OUR TEAM
Guillaume Giraud
Chief Inspector
A member of the Order of Engineers of Quebec since 2012 and a graduate of the École Polytechnique de Montréal, Mr. Giraud turns to the field of real estate for which he has had a passion for many years.
Afterwards, he completed his Building Inspection Technique course at the Grasset Institute and became a member of the AIBQ.
Combining expertise in engineering and building inspection, Mr. Giraud quickly distinguished himself by his level of competence. Surrounded by the best in the industry, Mr. Giraud founded the company Mon Inspection Immobilière and made a point of offering professional service.
Gérald Smith
Inspecteur Senior
La réputation de Gérald Smith n’est plus à faire. Actif dans le domaine de l’inspection depuis plus de 30 ans et ayant des milliers de dossiers à son actif, monsieur Smith se joint à l'équipe de Mon inspection immobilière en 2022.
Au sein de l’entreprise, monsieur Smith est un mentor hors pair pour tous les inspecteurs ainsi qu’une référence dans le domaine grâce à son engagement en tant que fondateur en 2009 et président sortant en novembre 2017 de l’ANIEB (ASSOCIATION NATIONALE DES INSPECTEURS ET EXPERTS EN BÂTIMENTS).
Plusieurs formations suivies combinées à une expérience de terrain importante permettent à monsieur Smith d’agir à titre d’expert dans différentes causes légales et offrent un coffre à outils bien rempli. Il est aussi dorénavant membre en règle de l'A.I.B.Q
Simon Primeau
Customer Care
Graduated from the University of Quebec in Montreal in communications, Mr. Primeau has always been passionate about real estate. With several years of experience in business start-up, Mr. Primeau joined the project and founded the company Mon Inspection Immobilière.
Customer service and customer satisfaction are his priorities. His objective for the company is to maintain an unparalleled reputation while maintaining a leadership position in property inspection.
A SHORT, MEDIUM AND LONG TERM FINANCING PLAN
fINANCING PLAN
The study of the contingency fund should allow the creation of a short, medium and long term financing plan, so that the repairs or the replacement of important building elements of the common areas can be carried out. This study will specify what the syndicate will have to accumulate, annually, so that the contingency fund is sufficient and thus avoid having to impose extraordinary contributions to the co-owners.
What is an asset management plan?
COMPLETE INVENTORY
In order to determine the components of the building covered by the contingency fund study and the maintenance log, it is essential to carry out the inventory of the components of the common areas as complete as possible. A specialist buidling inspector will carry out an inventory of each element of the building that will sooner or later require replacement or on-site maintenance with a visual inspection of the common areas and remotely using the plans and specifications available.
This inventory includes, among other things:
Building envelope
All the interior finishes of the common areas
Fire safety systems
Mechanical and electrical systems
Roof and parking
Building foundations
APPROPRIATE STRATEGIES
Based on the previously calculated expenditure plan, funding strategies to determine contingency fund contributions will be established. They will ensure that the condominium has the required sums to finance replacement or major maintenance work when it is scheduled to be carried out. There is two strategies that will be developed.