Revised Form B Now Available

Last year the BC provincial government introduced new regulations for the Strata Property Act: mandatory depreciation reports for strata corporations with more than 5 units (unless exempt by a ¾ vote resolution), changes to the amount allowed to be contributed to the contingency reserve fund (CRF), and additions to the Information Certificate (Form B). We’ve recently been notified that the revised Information Certificates are in place and now include:

Rules of the strata corporation Current budget Owner developer’s Rental Disclosure Statement (Form J) The most recent depreciation report, if any (mandatory by December 31, 2013) Information regarding the parking and storage allocated to the strata lot (effective January 1, 2014)

With the exception of the depreciation report and parking & storage locker information, none of the changes are new. The revised Form B can be reviewed here. For more information regarding the amendments to the Strata Property Act, see page 4 of the Real Estate Council of BC’s February 2012 Newsletter or visit the BC Housing and Construction Standard website.

If you have any questions regarding these new changes or anything else, I’d be happy to discuss. Please feel free to contact me anytime.

Best,