StraPlex | Ontario | Tool
Fee Split and Reserve Calculator: Ontario
Split a small building's yearly budget by each owner's share, check the reserve against the legal minimum where Ontario sets one, and total a simple reserve plan.
Split the yearly budget
| Unit | Proportion in the declaration | Share | Per year | Per month |
|---|---|---|---|---|
| Unit 1 | 25.00% | CA$3,750 | CA$313 | |
| Unit 2 | 25.00% | CA$3,750 | CA$313 | |
| Unit 3 | 25.00% | CA$3,750 | CA$313 | |
| Unit 4 | 25.00% | CA$3,750 | CA$313 |
Owners pay common expenses in the proportions the declaration sets (s. 84(1)). Enter each owner's figure from the title documents; equal numbers give equal shares.
Is the reserve fund at least the legal minimum?
Minimum CA$1,200 a year. Your budget has CA$3,000: enough.
Until the first reserve fund study and funding plan, at least 10% of the budget excluding the reserve fund (Condominium Act s. 93(5)). After that, the amount the study says is needed.
A simple reserve fund plan
List each shared item you will have to replace, today's cost and the years it has left. The yearly figure is the cost divided by the years, with no allowance for price rises or interest.
Columns: item, cost today (CAD), years left.
The plan needs CA$4,542 a year. Your budget puts CA$3,000 a year into the reserve fund.
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Let StraPlex run your condo corporation
StraPlex is an app that does the work of running a small condo corporation. Its AI writes the notices, minutes and budgets, and the app tracks every deadline in the Condominium Act, splits the fees and answers owners' questions. You approve, and it sends. Join the waitlist and get it first.