An upcoming change that will affect the BC commercial and residential strata market: the BC government is going to require that all strata corporations file a “depreciation report” (also known as a “reserve fund study”) every three years, outlining the current conditions of the building, and also file and continually update a 30-year budget for repair, maintenance and upgrades. The first depreciation reports must be filed by the end of 2013.
View an article outlining the upcoming BC government legislation published by Western Investor: Strata changes could shock some condo owners
BKDI Architects is experienced in assisting strata corporations with preparing building Assessments. If your strata corporation would like additional information on this new BC government legislation or assistance in preparing your depreciation report don’t hesitate to contact us.