Condo Chat: Understanding Reserve Funds: Protecting Your Condominium Investment

This presentation offers condominium owners a clear and comprehensive overview of reserve funds and their vital role in the long-term financial stability of a condominium corporation.

Topics will include:

• What a reserve fund study is—and what it isn’t
• The legal requirements governing reserve funds
• What should (and should not) be included in the study
• How costs are calculated and the importance of accurate forecasting
• The risks and consequences of underfunding

We will also explore whether reserve fund studies should be updated more frequently and discuss the growing influence of extreme weather events on building components and future reserve planning.

By the end of this session, owners will have a deeper understanding of how reserve funds work and why proactive planning and regular review are essential to safeguarding their investment.

Speaker: Shantel Kalakalo

Shantel Kalakalo is the President/Partner of Kalham Consulting Ltd. Previously Shantel worked at Wade Engineering for nearly 18 years and has led the Reserve Fund group for 15 years. She has a passion for Reserve Fund reports and has shown remarkable dedication to this industry. Shantel is also a current Board Member of a condo (Treasurer/Account Signatory) and has owned condos in the past which confirms the practicality of advice offered.

• President/Partner of Kalham Consulting Ltd.
• Worked at Wade Engineering for nearly 18 years.
• Canadian Condominium Institute, Member.
• Condo Owner's Forum Society of Alberta (COF), Member.
• Strathcona County Condomium Association (SCCA), Member.
• Reserve Fund Analyst (reviewed more than 1,200 reports).
• Condominium Management experience.
• Client liaison/presents reports to Clients.
• CCI – North Alberta Chapter past Board Member for 10 yrs (Secretary/1 st Vice President).
• Condominium Board Member – Treasurer

Sponsored by

Kalham was established in 2022 as personnel purchased the assets of the Reserve Fund department from Wade Engineering. Key personnel have been completing Reserve Fund Studies/Life Cycle Costing Reports for the last 15 years. Currently we have eight (8) team members working on reports including two (2) engineers – one assesses the mechanical & electrical and another to stamp the final report.