Strata Depreciation Reports
Delta-T Consultants offers full services for the preparation of Strata Depreciation Reports (also known as Reserve Fund Studies). This is a full building analysis that provides you with an inventory of assets, anticipated maintenance and replacement costs over the next 30 years, and an overview of the necessary finances for future work . The Strata Property Act now requires such a report every three years:
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.
Contact us if you have any questions regarding your strata. Below is some additional information that may be helpful to you: