Most strata council members are now familiar with the legislated requirement (Section 94 of the Strata Property Act (SPA)) that, with a few exceptions which do not apply to any Stratawest clients, every strata corporation in British Columbia must conduct a Depreciation Report by December 2013.
There were a number of news stories published over the past week regarding a very common practice of Strata Corporations. The gist goes something like this: most buildings have bylaws which permit the Strata Council to charge back the cost of insurance deductibles (and in practice, amounts below the insurance deductible) to the owner of a suite where damage originates. The most common example of this is when water flows from one suite to others. Some feel that this practice is unfair, but it is very common.
Welcome to the new www.stratawest.com. Please stay tuned for improvements to this website over the coming months, as well as this blog space where we will post information relevant to strata corporations in British Columbia. Here you will find news about changes to legislation, industry developments and events, and informative articles about the Strata Property Act and related legislation.