Status of Changes to the Strata Property Act and Regulations

Updated May 8, 2014

The province has introduced a number of amendments to the Strata Property Act and Regulations that are at different stages of implementation:

Paying for Depreciation Reports

Status: In Effect       

The amendment clarifies that paying for and acquiring funds to pay for a depreciation report is a legitimate operating fund expense, and can be approved by a majority vote.

Contingency Reserve Fund Expenditures

Status: In Effect       

The amendment makes paying for repairs recommended in the depreciation report easier by reducing the required approval for contingency reserve fund expenditures from three quarters to majority vote. Expenditures from the contingency reserve fund that are unrelated to the repair and maintenance of common assets would still require a three quarter vote.

Definition of Purchasers

Status: In Effect       

The definition of purchasers has changed to make it clearer that certain rights and obligations do not end when the title has changed hands. The amendment allows the purchaser/owner to whom the title to a strata lot is transferred from an owner developer to apply for removal of one or more claims of lien.

Permitted Investments

Status: In Effect July 2014 

In order to simplify and modernize what strata corporations may invest their contingency reserve funds and special levies in, the Province made changes to the Strata Property Regulation. The amendment, which comes into effect in July 2014, clarifies the current regulation while enabling a wide range of high quality investment opportunities. The vast majority of existing accounts or investments actually used by strata corporations would qualify under the new regulation. Any existing investments that do not comply with the amended regulation are grandfathered until they mature or are sold.

View the Order In Council for the detailed information.

Special Levies

Status: In Effect

On December 12, 2013 the Province brought into force legislative amendments to allow strata corporations with majority support to apply to the BC Supreme Court to require strata owners to pay for certain repairs.

Under the amendment the court can issue an order to proceed with certain critical repairs necessary to ensure safety and prevent significant loss or damage as if the strata owners have passed a resolution endorsing a special levy.

Currently, the Strata Property Act requires a 3/4 vote to impose a special levy to raise money for needed repairs to common property. Without this amendment, a number of strata corporations would have remained deadlocked and deteriorating.

View the revised Section 173 of the Strata Property Act for the above changes.

Depreciation Reports

Status: In Effect

A depreciation report help strata corporations plan for the repair, maintenance and replacement of common property, limited common property and common assets.

Strata corporations in British Columbia need to obtain depreciation reports every three years unless they hold an annual 3/4 (three quarter) vote to exempt or have four, or fewer, strata lots. There are different timing requirements for the first depreciation report depending on when the strata corporation was formed.

  • For strata corporations formed on or before December 14, 2011, a depreciation report is required by December 13, 2013.
  • For strata corporations formed after December 14, 2011, a depreciation report is required within 6 months after their second AGM.

Please note that depreciation reports do not need to be submitted to government, but do need to be attached to the Form B (Information Certificate) and permanently retained by strata corporations.

See Guide12: Depreciation Reports

Further Resources:CHOA (Condominium Home Owners Association) and VISOA (Vancouver Island Strata Owners Association).

Form B: Allocation of Parking and Storage

Status: In Effect

Effective January 1, 2014 strata corporations are required to identify how parking and storage lockers are allocated to strata lots on a new Form B (Information Certificate).

View updated Form B.

Dispute Resolution

Status: In Progress

Gives owners and residents better mechanisms for settling disputes that arise in strata corporations.

On May 7, 2012 the province introduced legislation for improved dispute resolution for strata properties. A new Civil Resolution Tribunal with members that have strata property expertise will help resolve issues and conflicts within strata properties. This legislation comes after public consultation, including a survey in fall 2011, and ongoing stakeholder consultation.

More Information...