What is a Depreciation Report?

(March 04, 2014, posted in Property Value)

By providing the strata corporation with a summary of current deficiencies, future projected capital expenditures, and costs for maintenance of each component Depreciation Reports help Strata Corporations, including bare-land strata corporations, plan for repair, maintenance and replacement of common property, limited common property and common assets over a 30 year period. As well, the depreciati... read more.

What Does the Depreciation Report mean for Home Owners

(March 04, 2014, posted in Property Value)

The Provincial Government introduced mandatory Depreciation Reports to the Strata Property Act with the goal of improving the on-going upgrade, repair, maintenance process in BC by providing transparency and clarity for Strata Lot purchasers and owners alike. The complete scope of effects on the residential resale market will differ from building to building but looking at other provinces that hav... read more.