Law 16
Your new obligations

WHEN LAW 16 RINGS, LAUCANDRIQUE ANSWERS

OBJECTIVES
OF LAW 16

  • Modernizing condominium management
  • Enhancing transparency and financial rigor
  • Protecting co-owners' investments
  • Ensuring the sustainability of buildings

HIGHLIGHTS OF THE LAW

MAINTENANCE BOOKLET

  • Inventory and condition of common areas
  • Repair and warranty history
  • Updated annually and reviewed every 5 years

COMPLIANCE DEADLINES

  • 3 years to produce booklet and FDP study
  • 10 years to reach required capitalization

ATTESTATION AT THE TIME OF SALE

  • Delivery within 15 days of promise to purchase
  • Mandatory financial and historical information

PENSION FUND STUDY

  • Estimates of major work over 25 years
  • Calculation of annual contributions
  • Revision every 5 years

ADVANCE PAYMENT - PROTECTION

  • Trust account deposit
  • Insurance, bond or guarantee required

WHAT LAUCANDRIQUE DOES FOR YOU

  • Bill 16 compliance: personalized plan and comprehensive follow-up
  • Implementation & transfer: data import and continuous adjustments
  • Management & visits: annual planning and coordination of interventions
  • Reporting & accounting: compliance reports and budget monitoring
  • Certificates: turnkey preparation and delivery
  • Condo Inspection: technical inspections and condition reports
  • Dedicated experts : direct access to our engineers, lawyers and accountants
  • Manager & strategy: proactive monitoring and half-yearly advice

SOURCES OF INFORMATION