Skip to content
Bill 16 is reshaping real estate management in Quebec—forcing co-ownership syndicates to adapt. With stricter reserve fund requirements, mandatory financial transparency, and increased legal risks, the challenges are significant. Here’s what you need to know to navigate the coming years with confidence.
Bill 16 in Quebec: Key Changes for Syndicates and Co-owners
Reserve Fund: Stricter Requirements
Bill 16 now mandates an in-depth study of reserve funds every five years (previously every ten years). For Quebec condominiums, this means:
- Contributions will often be increased. In 2022, an article from Le Devoir already highlighted a major deficit in contingency funds.
- Greater pressure on property managers to prioritize urgent work (e.g., roofing, elevators).
Enhanced Financial Transparency
Syndicates must now publish a detailed annual financial report, including an overview of expenses and reserves. This is essential to prevent disputes between co-owners but can become an administrative nightmare without the right tools.
Increased Legal Responsibility
The board of directors is now required to subscribe to civil liability insurance. This is a crucial protection against legal claims, but without expert negotiation, it can become costly.
Budget Planning: Avoid the Pitfalls of Bill 16
Anticipating hidden costs is now critical. Some condominiums have seen their fees increase by 15% due to an insufficient reserve fund.
Solution #1 : Digitize management with specialized software to track expenses in real time.
Solution #2 : Work with Quebec real estate law experts to audit contracts and insurance policies.
Why Choose Deluxco for Bill 16 Compliance
At Deluxco, we turn legal constraints into opportunities:
- Certified Reserve Fund Studies: We work with building inspection partners to provide quality reserve fund studies.
- 24/7 Transparent Platform: Keep budgets, legal documents, and work history updated with a single click.
- Custom Insurance Negotiation: Reduce your premiums through our network of partner brokers.
Bill 16 demands rigour and expertise, but you don’t have to face it alone. Deluxco combines knowledge of the legal framework, technological tools, and budgetary strategies to protect your co-ownership.
Let’s discuss your project—contact us today!
📩 Visit our website : https://deluxco.ca/
📞 +1 (833) 773-4666
📩 info@deluxco.ca