Solutions and services

Valuation Services

Penny & Keenleyside Appraisals offers a wide variety of valuation services including:

• point-in-time real estate appraisals

• valuations for expropriation matters

• valuations for litigation matters

• market rental appraisals

• insurance appraisals

• replacement cost reports

Advisory Services

These services include reports other than value estimates such as: land utilization or highest and best use analysis, cost-benefit analysis, marketability studies, feasibility or investment analysis, arbitration and negotiation, market analysis, and other research driven studies.  These reports are tailored to the needs of a particular client and are based on an hourly rate, agreed upon in advance.

Advice and Expert Testimony

These services include tax counselling, assessment appeals or reviews, zoning advice, appearance as an expert witness in arbitration hearings, expropriation and litigation matters.  These services are often related to an appraisal previously completed and are based on an hourly rate previously agreed upon prior to undertaking the assignment.

Depreciation Reports

Also known as a reserve fund study, the depreciation report is a long-range financial planning process that identifies the current status of a strata corporation’s common building elements and capital reserves and provides a funding plan to offset the anticipated future major common property replacement obligations.


The purpose of the depreciation report is to establish the reserve fund requirements of the strata corporation and to assist the owners in creating a viable reserve fund plan going forward.


Penny & Keenleyside reserve planners follow Reserve Fund Planning Standards that exceed the regulatory requirements that are now recognized and emulated across Canada. The standards, presented throughout the depreciation report, consist of investigations, analysis and calculations that provide realistic and supportable reserve fund estimates.  The report will be a full narrative report prepared in accordance with the reporting guidelines and requirements of the Appraisal Institute of Canada (AIC), the Real Estate Institute of Canada (REIC) and the Strata Property Act.


The consultants at Penny & Keenleyside are all fully qualified and trained Professional Reserve Planners and Appraisers holding the CRP (Certified Reserve Planner) designation from the REIC and/or the AACI (Accredited Appraiser Canadian Institute) designation from the Appraisal Institute of Canada.  The consultants conducting depreciation reports have been trained through the CRP educational program by the Real Estate Institute of Canada.  Our consultants have anywhere from 10 to 40 years of experience and are able to provide well supported, well reasoned reports for a variety of purposes.  All of our consultants are mandated to carry professional liability insurance.


If you are interested in receiving a quotation from us to conduct an appraisal or a depreciation report please fill out this questionnaire.