Description of the reference unit

The demystification of reference units in the context of co-ownership aims to clarify and standardize the detailed description of the private portions. This allows co-owners to identify improvements made to their units. This initiative, resulting from Bill 141 adopted by the National Assembly of Quebec, is essential to ensure a clear and precise understanding of the standards.

Our role, as members of the Order of Approved Appraisers of Quebec, is to help co-ownership syndicates prepare these reports in accordance with legal requirements. Our expertise is used to identify the elements to be included in the description and to ensure that the initial standards established by the promoter are respected. This collaboration facilitates the creation and adoption of the description of these improvements, which are essential for effective management of the co-ownership.

We are therefore committed to providing detailed, objective and transparent reporting by assessing potential differences between the improved units and the reference unit. These reports will be consulted when evaluating the insurable value of the building. This approach not only makes it possible to prevent complications, but also to agree on adequate insurance coverage that complies with legal requirements for each co-owner.

The description of the reference unit applies only to properties held in co-ownership. The insurable value appraisal (Refer to the FAQ section) must refer to this document because it describes the elements common to each unit (or the basic elements) that are an integral part of the co-ownership syndicate.