Depreciation Reports

Are they really necessary?
Passed by the B.C. Legislature on Dec.14, 2011, strata building depreciation reports (D.R.s) are now required for all stratas with 5 or more units unless voted down every year by a 75% majority. D.R.s can be a great boon for potential buyers, giving a good indication for the next 30 years of what needs attention on a building and how much it will cost. Some stratas are deciding not to produce a D.R. This however could affect every member’s suite / property value. Read more…

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