Learn More About Depreciation Reports
Friday, March 21st, 2014The Strata Property Act requires strata corporations to obtain a depreciation report every 3 years, unless a strata corporation holds an annual 3/4 vote to waive the requirement, or has four or fewer strata lots. Strata corporations that existed on December 14, 2011 were required to obtain a depreciation report by December 14, 2013. Newer strata corporations must obtain a depreciation report within 6 months following the date of their second Annual General Meeting (or the last date that they would have been required to hold their second AGM if there was a waiver of the meeting). Find complete information about requirements for Depreciation Reports at www.housing.gov.bc.ca/pub/strata-pdf/Guide12.pdf.
Source: Report from Council, issued February 2014/Volume 48, No.11
