by Andy bernhart | Feb 18, 2023 | Resources
One of the most common questions we get from our clients in regards to the strata corporations they are considering purchasing into is: Does this strata have “enough” in its Contingency Reserve Fund (CRF)? What a lot of people don’t understand is that, depending on...
by Andy bernhart | Feb 17, 2023 | Resources
There is no doubt that it’s important for strata corporations to be fiscally responsible. That being said, strata corporations whose main focus is keeping strata fees as low as possible can, at times, make decisions that lead to low strata fees in the short term, but...
by Andy bernhart | Feb 16, 2023 | Resources
There are a few questions you should be asking when considering the alterations that have been made within a strata lot:• Have previous owners asked for and received approval for the alterations?• Are there any agreements that make the owner responsible for future...
by Andy bernhart | Feb 15, 2023 | Resources
The BC Home Owner Protection Act requires that all newly built homes (including strata properties) or buildings that have been substantially reconstructed be covered by third-party new home warranty insurance. You may often hear this referred to as the “2-5-10 New...
by Andy bernhart | Feb 14, 2023 | Resources
The BC Home Owner Protection Act requires that all newly built homes (including strata properties) or buildings that have been substantially reconstructed be covered by third-party new home warranty insurance. You may often hear this referred to as the “2-5-10 New...
by Andy bernhart | Feb 13, 2023 | Resources
The current strata insurance situation in BC has been difficult to say the least. Many strata corporations have seen premium increases from 20% to 50%, with some high value/high risk stratas seeing increases in the 200% to 400% range. While the narrative around this...
