Reserve Fund Studies
Glen Cowan & Associates Ltd. is proud to be providing Reserve Fund Studies through it’s sister company CanWest Reserve Planners & Insurance Appraisers.
Alberta legislation requires condominium corporations to obtain a Reserve Fund Study from a qualified reserve planner every five years.
A reserve plan is a financial document developed to accommodate the replacement of the depreciating components of the common areas of a condominium. Reserve Fund Studies for condominium projects are an invaluable tool which enables condominium unit owners, boards and property managers to anticipate maintenance costs for items under the responsibility of the condominium association, which will be incurred and to establish appropriate financial plans so that anticipated obligations can be met.
CanWest Reserve Planners and Insurance Appraisers bring together several real estate professionals with extensive backgrounds in construction costs and property financial analysis. In addition, various members of the firm are Certified Reserve Planners as designated by the Real Estate Institute of Canada. One of the founding partners, Ed Jackson, was instrumental in bringing the CRP program to Alberta and overseeing the accreditation of all Certified Reserve Planners in the province.
A key philosophy of the firm is to provide a well supported, independent analysis while recognizing the individual characteristics of a property, the management style in place and the short and long term goals of the condominium association. The CRP designation is your assurance of a high standard of professionalism completed by a Certified Reserve Planner.
Insurance Appraisals
Real Estate Insurance Appraisals for Replacement Cost are generally a requirement for most commercial, industrial and residential projects. Full replacement cost insurance has become more of a necessity for property owner and condominium boards to avoid becoming co-insurers (being underinsured and responsible for a portion of the loss/damages) in the event of a major claim.
Our firm uses an internationally recognized Construction Cost Service, RS Means, together with our own local contacts in the construction industry. Our appraisers are accredited appraisers with the Appraisal Institute of Canada with the senior level designation of AACI.
Staff
The strengths of the firm lie with the people involved. All have extensive backgrounds in various key disciplines and believe in continual professional enrichment and recertification. The company also possesses the latest computer technology to aid in the analysis and presentation of the findings. With our professional accreditation we offer:
- nationally standardized training (both Real Estate Institute of Canada & the Appraisal Institute of Canada)
- comprehensive liability insurance
- adherence to a strict standard of professional performance
- bound to a professional code of ethics
- requirements for continued education on an ongoing basis
Our Services Include:
- Qualified Reserve Fund Studies
- Insurance Appraisals
- Information Sessions
- Competitive Quotes
- Real Estate Consulting
- Market Value Appraisals through an affiliated firm, Glen Cowan & Associates Real Property Appraisals Ltd.
Please contact us if you wish to discuss how CanWest Reserve Planners and Insurance Appraisers can assist you.