Course Description and Outline

CPD 145: Protecting Condominium Investments: Reserve Funds & Depreciation Reports

Pre-requisite: None.

Course Description

Reserve fund studies (also called depreciation reports) are complex physical analysis and budgeting reports that are designed specifically to assist property owners, managers, purchasers, real estate salespersons, mortgage lenders, and other readers to understand the forecasted physical deterioration and replacement of building elements that are the responsibility of the condominium corporation.

This course is focused on the correct use and interpretation of the information in a reserve fund study. The intention is to be able to interpret these reports not only for what is included, but also for what is missing. To achieve this, the report reader must have a basic understanding of the reserve fund planning process and of the alternative financial modelling procedures that can be undertaken.

Lesson 1 focuses on the reserve fund preparation and analysis, including an overview of analysis and reporting procedures.

Lesson 2 provides greater depth in understanding how to interpret, evaluate, and consider the impact of practical decisions on the results of a given study and the sensitivity analysis. 

If you have administrative questions, please email us at If you have a comment on this page or a suggestion for additional website features, please email us at