The cost of a contingency fund study in Quebec is one of the most frequent questions from boards facing the August 14, 2028 Bill 16 compliance deadline. Here are realistic ranges and the factors that explain them.
Typical price range
For an initial study, expect generally:
| Co-ownership type | Indicative cost |
|---|---|
| Small (≤ 20 units, few mechanical systems) | $3,000 to $6,000 |
| Mid-sized (20–80 units, elevator or centralized systems) | $5,000 to $10,000 |
| Large (80+ units, centralized ventilation, underground parking, pool) | $10,000 to $15,000+ |
These ranges are indicative — actual quotes vary by market, professional availability, and quality of the requested deliverable.
What drives the price
Building size and complexity
The number of units is the first multiplier. More units mean a longer inventory of common equipment and a more complex financial projection.
The complexity of systems matters even more than raw size. A 60-unit building without elevator and with individual heating costs less to study than a 40-unit building with elevator, centralized ventilation, and underground parking.
Building age
A recent (≤ 15 years) building requires less inspection time since components are still close to their original state, and remaining useful lives are easier to estimate.
An older (30+ years) building requires deeper inspection, review of maintenance history, and assessment of components nearing end of life — each of these elements lengthens the mandate.
Chosen professional order
The five orders authorized for the contingency fund study (OIQ, OAQ, OTPQ, OEAQ, CPA — see « Who can prepare a contingency fund study? ») have different rate scales:
- Engineers (OIQ) and architects (OAQ): higher hourly rates (typically $150–250/hr), often justified for complex buildings.
- Professional technologists (OTPQ) and chartered appraisers (OEAQ): more affordable rates ($90–160/hr), often sufficient for simple or mid-sized co-ownerships.
- Chartered professional accountants (CPA): authorized only for the contingency fund study (not the maintenance logbook), relevant when the building inventory is already documented and the mandate is mainly the financial projection. Rates vary by firm.
For a small co-ownership, choosing a chartered appraiser or a technologist instead of an engineer can cut the bill in half without losing regulatory quality.
Cost of the 5-year review
The study must be reviewed every 5 years. Good news: the review typically costs less than the initial study because:
- The physical inventory of components is already documented.
- Recent work history is integrated.
- The 25-year projection is updated, not rebuilt.
Expect 40 to 60% of the initial study cost for a standard review, more if major changes occurred (renovation, expansion, defects revealed).
Comparing quotes
To mandate the right professional, request at least three quotes and compare in detail:
- Deliverable contents: component inventory, financial projection, contribution recommendations, alternative scenarios (status quo, 5-year catch-up, 10-year catch-up).
- Experience in divided co-ownership: recent references for comparable buildings.
- Professional liability insurance: written proof, minimum amount $1M.
- Production timeline: from mandate to delivery of the final report.
- Inclusions: physical visit, board presentation, information session for co-owners.
Don't pick the cheapest quote by default — a poorly-done deliverable exposes the syndicate to a bigger problem at the 5-year review or during a unit sale.
How to finance the study
Three practical options:
- Current operating budget — for a study at the low end of the range, it's often absorbable without a dedicated assessment.
- Dedicated assessment — voted at assembly, spread over 6–12 months, dedicated specifically to the study.
- Charge to the contingency fund — allowed if the declaration of co-ownership permits, since the study benefits the fund. Verify with your notary first.
As the August 14, 2028 deadline approaches, demand for qualified professionals is rising — and prices with it. Mandating in 2026 or early 2027 captures current rates.