Understanding Strata Corporations & Key Documents in BC

A strata corporation is formed when a condo, townhouse or row-house development is registered. It owns (and is responsible for) all common property and assets—grounds, envelope, amenities, insurance, and more. The elected strata council governs day-to-day affairs, and its core records provide a window into financial health and decision-making. If you’re considering a purchase, always obtain and review these documents first.

Why Review the Documents Before You Buy?

Minutes, financial statements, depreciation reports and other filings reveal a corporation’s stability, contingency-reserve funding and potential red flags—information that directly affects long-term value and future special-levy risk. In BC, prudent buyers study these records before removing conditions or writing an offer.

How to Obtain the Records

• Submit a written request to the property manager or council.
• Order document packages online (e.g. StrataPress.com).
• Ask your REALTOR® to secure Form B, Form F and supporting files.
• Use professional review services such as Condo Clear or Eli Report for concise summaries.

What to Look For

• Budget & reserve levels – Are contributions adequate? Any looming special levies?
• Depreciation report – Replacement timelines and funding recommendations.
• Minutes & bylaws – Past disputes, bylaw violations, upcoming projects, restrictions (pets, rentals, smoking).
• Insurance information – Deductibles, policy limits, recent claims.
• Legal / bylaw enforcement – Court or CRT actions, human-rights complaints.

Key Questions to Ask Council

• What is the current contingency-reserve balance?
• Are any special assessments planned or under discussion?
• Have there been recent insurance premium jumps or water-damage claims?
• When was the last building-envelope inspection?
• Are there outstanding bylaw infractions or legal disputes?

Other Due-Diligence Tips

• Compare strata fees and CRF balances to similar complexes nearby.
• Walk the property; talk with current residents to gauge community culture.
• Factor location, age and square footage into your value analysis.

Bottom line: Comprehensive document review is essential to safeguard your investment and avoid unpleasant surprises after completion.

Not Legal Advice – This material is for general information only. Always consult appropriate professionals before acting on strata matters.