On written request, a condominium corporation must provide a statement outlining:
- any structural deficiencies or
- problems it has knowledge of (at the time of request) in the buildings included in the condominium plan
Review this statement along with the reserve fund report and plan for deficiencies to address in the future and the potential costs of dealing with them. How will the condominium corporation cover the costs? Is there enough money in the reserve fund? Will there be a need for a special assessment or increasing condominium contributions?
You should also note any deficiencies mentioned in the statement but not included in the reserve fund report or plan. Also, there may be new problems since the last reserve fund study.
Talk to your lawyer or real estate agent about possible structural deficiencies and potential risks of buying the property. Consider hiring a home inspector or engineer to help you assess the benefits and risks of the property before you buy.
Last updated: August 2026
