COVID-19 (Coronavirus) – Update #5

Since we last wrote to you, a number of developments have occurred that we would like to update you on:

• Stratawest website – for those not yet aware, our client facing website has a section intended to be a resource for strata focused COVID-19 information and you can visit it at https://www.stratawest.com/covid-19/ – it includes the updates we have provided to clients, Notices that can be posted on site, links to other industry resources, frequently asked questions, and more;

• The Real Estate Council of BC Update to Owners – RECBC) has released an information bulletin intended for Owners in Strata Corporations and it can be found here. It covers topics such as Strata Fees (as noted below, these need to continue to be paid by Owners), a caution that Strata Managers may be slower than usual to respond to day to day inquiries due to both the extreme volume of work they’re facing and restrictions on in-office work, a note about deferring General Meetings when group sizes exceed limits imposed by the Government and Health Authorities and more;

• Insurance Update & Renewals – BFL Canada, a major insurance broker have released a bulletin covering insurance related matters- you can find it here;

• Suspension of Limitation Periods – the BC Government has announced that the Limitation Period has been suspended- you can read about this at https://news.gov.bc.ca/21896/ – this will impact Strata Corporations concerned about collecting arrears during this period of economic disruption
• Protection for Renters – the BC Government has also announced protection for Renters.  While we do not conduct Rental services, this will impact Strata Corporations in some ways that are not yet clear.  For example, one of the protections is that tenants need to consent before showings of suites can occur to prospective tenants- something that may be harder to obtain for landlords at this time.  This may lessen the amount of traffic in Strata Corporations where there are many rental suites.

We encourage you to visit our COVID-19 website at your next opportunity and to review the information we have posted there.  We will continue to “push” updates via email directly to Strata Councils, however the website is also intended to be a repository of information for Strata Lot Owners.

Thank you for everything you have and continue to do on behalf of your Strata Corporations.