Are you unsure of what strata financial documents you should be checking? It’s really not that hard. Here are some pointers.
One of the documents that is provided together with the Form B is the current budget. In addition to this, it’s recommended that the following financial documents also be reviewed:
- Previous Year’s Budget
- Income Statement (ideally within two months old)
- Balance Sheet (ideally within two months old)
- Year End Financials (for the last two years)
Reviewing these financials will allow you to see how the strata fees and strata insurance premiums have increased over that time. This is something we note in all our reviews. We also provide market averages, based on data from hundreds of strata reviews, giving you and your clients more insights to be able to make an informed decision.
Next week we’ll look at alterations within strata units, as reported on the Form B. If you have any suggestions for other topics you’d like us to cover, please let us know at info@condoclear.ca.
A little about us:
- We are a fully licensed brokerage under the BCFSA, and carry Errors and Omissions (E&O) insurance.
- We’ve been in business since 2017 and have completed over 1,800 strata reviews to date province wide.
- Our Review Advisors have firsthand knowledge and experience. They’ve all been practicing strata managers.
A little about our services:
FAQs: How do Condo Clear’s services work?
Pricing: How much do Condo Clear’s services cost?
Here is a Sample Buyer’s Review that you can look through. If you have some time, we would love to setup a quick chat, to talk more about our review process and go over any specific needs you might have.
Ryan Stenquist & Magurel Mic
Condo Clear Services Inc.
