The Role and Responsibilities of BC Strata Councils: Governance, Limitations, and Decision-Making
Posted on Jul 31, 2024 in Strata Facts and Information
Strata councils play a crucial role in the management and governance of strata properties in British Columbia. They act as the executive body of the strata corporation, making decisions that affect the daily operations and long-term planning of the community. This blog post will explore the responsibilities, limitations, and powers of strata counci...
Understanding Strata Fees in British Columbia: What They Are, How They Are Collected, and What They Cover
Posted on Jul 31, 2024 in Strata Facts and Information
If you're considering buying a condominium or townhouse in British Columbia, you'll need to understand strata fees. Strata fees are a crucial part of strata living, helping to ensure the upkeep and maintenance of the common property and amenities shared by all owners. Here's a detailed look at what strata fees are, how they are collected, and what...
Understanding the Contingency Reserve Fund (CRF) in BC Strata Properties
Posted on Jul 31, 2024 in Strata Facts and Information
When you own a strata property in British Columbia, a portion of your strata fees goes towards the Contingency Reserve Fund (CRF). This fund is essential for the long-term financial health and maintenance of the strata property. Here’s a detailed explanation of how strata fees are determined, what the CRF is, how it is used, and how it is managed.
D...
Understanding AGMs, SGMs, and Meeting Minutes in BC Strata Corporations
Posted on Jul 31, 2024 in Strata Facts and Information
Strata corporations in British Columbia are governed by the Strata Property Act, which mandates the holding of Annual General Meetings (AGMs) and, when necessary, Special General Meetings (SGMs). These meetings are crucial for the effective management and operation of the strata corporation. Here's a detailed look at the importance of these meeting...
Understanding Special Levies in BC Strata Properties
Posted on Jul 31, 2024 in Strata Facts and Information
Special levies are an important aspect of strata living in British Columbia. They can have significant financial implications for owners and can impact the process of selling a strata property. This article will explain what special levies are, how they are handled and paid, and the effects they have on owners and the selling process.
What Are Speci...
Why Should Buyers Read a Strata's Depreciation Report Before Buying
Posted on May 01, 2024 in Strata Facts and Information
- Financial Planning: Strata depreciation reports provide insights into the anticipated future maintenance and repair costs of common property components. By reviewing these reports, buyers can assess the financial health of the strata c...