• Victoria
  • Sidney
  • Saanich Peninsula
    250-656-4626
In your neighbourhood...
  • Victoria
  • Sidney
  • Saanich Peninsula
    250-656-4626
In your neighbourhood...

Blog

Strata Development Termination - Tag: Strata

Posted by Jack Barker

Two recent BC court cases clarify when a strata council might list a terminated development project for sale, or contract to sell it to a buyer.

Many of BC's earliest strata developments are around 50 years old. Aging strata buildings may be located in an area rezoned for higher density development, or need so much remedial work that selling the project to a developer for redevelopment is more cost effective. In 2016, the province of BC made it easier for strata owners to choose to terminate their development, lowering the threshold for a winding-up resolution to 80%. Since then, the Supreme Court of British Columbia has decided several important termination cases.

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Exemptions to Bill 45 - Tag: Strata

Posted by Jack Barker

As of the passing of Bill 45, the Budget Measures Implementation (Speculation and Vacancy Tax) Act, the Government of British Columbia has approved additional exemptions to the tax, addressing advocacy concerns brought to the Province’s attention by BCREA. The Bill now allows for exemptions for British Columbians going through traumatic life events such as illness, divorce, or separations, and for owners of properties that are being developed or undergoing renovations.

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Strata Property Act Depreciation Report - Tag: Strata

Posted by Jack Barker

In 2011, the Provincial Government enacted significant changes to the Strata Property Act and in particular the Depreciation Report. In other provinces they are Capital Reserve Funds. After the announcement, the Strata Condominium Owner Association of BC held a number of public information meetings for Strata Owners...

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