Strata Bylaws and Rules A strata corporation must have bylaws that govern the administration, control, management, maintenance and use of the strata lots and common property in the strata corporation. A strata corporation operates under the Standard Bylaws, as per the Strata Property Act, unless it has adopted its own bylaws or amended the Standard […]
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Depreciation Reports/Reserve Fund Studies As of December 14th, 2011, an amendment to the Strata Property Act (SPA) was passed, requiring strata corporations to obtain deprecation reports by no later then December 14th, 2013, unless the owners of the corporation waive this requirement by way of a ¾ vote resolution at a general meeting. Strata corporations […]
Strata Insurance In this post we will discuss both strata insurance and homeowners insurance. Many strata lot owners believe that they do not require individual homeowners insurance for their strata lot. They think that they are insured through the strata insurance program, as they pay for it through strata fees. This is not the case. […]
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