Does the provisional director have to require a contribution to the contingency fund and what is the method for determining the amount of such contribution?

Yes, the contingency fund is also an expense to be forecasted. The Civil Code of Quebec requires a contribution to the contingency fund which should not be less than 5% of the total expenses of the divided co-ownership. The general rule with regard to the contingency fund should be the following one; the syndicate of co-owners grants a mandate to a professional (architect, engineer, appraiser) so that the latter examines the common portions and determines when the major maintenance works will have to be made and at what cost (eg. roofing, plumbing, heating, elevator, concrete floor, garage, etc.). This professional will also have to make known the amounts which will have to be deposited in the contingency fund and what will be the annual contribution of co-owners to the contingency fund. Such a system should minimize the risks of unpleasant surprises and repeated fund raisings as soon as there are works to be made on the common portions. In the case of a new co-ownership, where repairs are less frequent, it is recommended to subscribe to it, but by contributing there only the minimum required by law. A contingency fund sufficiently stocked is the guarantee of a co-ownership in health, adequately managed and it constitutes surely an increase in value at the time of resale.