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When purchasing a strata-titled property, it's important to confirm whether any alterations have been made to the unit, whether those alterations were properly approved by the strata corporation, and whether any agreements are in place that assign responsibility for...
In British Columbia, most newly built homes, including strata-titled properties, are required to have third-party new home warranty insurance under the Homeowner Protection Act. This is commonly referred to as the “2-5-10” New Home Warranty. For buyers, Realtors,...
Every strata corporation in British Columbia must hold an annual general meeting (AGM) each year. At that meeting, owners elect council members, vote on the annual budget, and may be asked to approve significant financial or governance decisions. Before the meeting...
Clauses or conditions in a Contract of Purchase and Sale are not just boilerplate. They are intended to protect consumers by creating conditions that must be satisfied before the transaction becomes binding. From a buyer’s perspective, subjects provide the opportunity...
In British Columbia, strata corporations must hold an annual general meeting (AGM) each year, at which owners must approve a budget for the upcoming fiscal year. The operating budget covers the strata’s regular expenses, such as utilities, cleaning, insurance,...
When purchasing a strata-titled property, it's important to confirm whether any alterations have been made to the unit, whether those alterations were properly approved by the strata corporation, and whether any agreements are in place that assign responsibility for...
In British Columbia, most newly built homes, including strata-titled properties, are required to have third-party new home warranty insurance under the Homeowner Protection Act. This is commonly referred to as the “2-5-10” New Home Warranty. For buyers, Realtors,...
Every strata corporation in British Columbia must hold an annual general meeting (AGM) each year. At that meeting, owners elect council members, vote on the annual budget, and may be asked to approve significant financial or governance decisions. Before the meeting...
Clauses or conditions in a Contract of Purchase and Sale are not just boilerplate. They are intended to protect consumers by creating conditions that must be satisfied before the transaction becomes binding. From a buyer’s perspective, subjects provide the opportunity...
In British Columbia, strata corporations must hold an annual general meeting (AGM) each year, at which owners must approve a budget for the upcoming fiscal year. The operating budget covers the strata’s regular expenses, such as utilities, cleaning, insurance,...
Many people who live in or purchase a unit in a strata corporation plan to renovate either before or shortly after moving in. While this is common, renovations in a strata often require careful review of the bylaws to confirm whether the proposed changes are...
A depreciation report can become outdated far sooner than many people expect. In some cases, information in the report may begin to lose accuracy only a year or two after the report is completed. The answer depends on how well the report’s assumptions still match...
Strata corporations in British Columbia operate within a fairly complex legal framework. While the Strata Property Act is the primary legislation governing how stratas are created, managed, and governed, it's not the only law that applies. Depending on the issue,...
When purchasing a strata-titled property, it's important to confirm whether any alterations have been made to the unit, whether those alterations were properly approved by the strata corporation, and whether any agreements are in place that assign responsibility for...
In British Columbia, most newly built homes, including strata-titled properties, are required to have third-party new home warranty insurance under the Homeowner Protection Act. This is commonly referred to as the “2-5-10” New Home Warranty. For buyers, Realtors,...
Every strata corporation in British Columbia must hold an annual general meeting (AGM) each year. At that meeting, owners elect council members, vote on the annual budget, and may be asked to approve significant financial or governance decisions. Before the meeting...
Clauses or conditions in a Contract of Purchase and Sale are not just boilerplate. They are intended to protect consumers by creating conditions that must be satisfied before the transaction becomes binding. From a buyer’s perspective, subjects provide the opportunity...
In British Columbia, strata corporations must hold an annual general meeting (AGM) each year, at which owners must approve a budget for the upcoming fiscal year. The operating budget covers the strata’s regular expenses, such as utilities, cleaning, insurance,...