Performance Audit And Reserve Fund Study (66 Unit Townhouse Site)
Cion Corp was retained by the Board of Directors to prepare the Corporation’s first year Performance Audit and Class 1 Comprehensive Reserve Fund Study. The site consists of 66 3-storey residential townhouse units
The Performance Audit is the warranty claim against the warranty provided by the Tarion Warranty Corporation for the common elements. The first year performance audit is required to be submitted to Tarion within 11 months after the date of registration.
Scope of services included review of documents and drawings, unit owner surveys, client interviews, site / visual reviews, reporting, issuing reports, managing the claim / Performance Audit Tracking summary (PATS) and in some cases representing the Board during conciliation.