Buying a Strata Condo or Townhome in B.C.: Documents Guide

The documents to ask for

• Form B (Information Certificate). Shows the unit’s monthly fees, any money owing, approved or proposed special levies, the contingency reserve fund balance, legal actions or Civil Resolution Tribunal matters, parking and locker allocation, and (since April 2023) a summary of the strata’s insurance.
• Minutes. Council meeting and general meeting minutes for the last 2 years. Search them for leaks, roof, envelope, elevator, plumbing, insurance claims, levies, lawsuits and complaints.
• Bylaws and rules. Pets, rentals, short-term rentals, smoking, renovations, moving and noise.
• Budget and financial statements. Is the contingency reserve fund growing? Are fees going up?
• Depreciation report. A professional’s plan for major repairs over 30 years. Since July 1, 2024, stratas with five or more lots must get one every five years and can no longer waive it by vote.
• Engineering, envelope or warranty reports. Especially for older buildings and newer ones still under the 2-5-10 home warranty.
• Insurance certificate and deductibles. Check the water damage and earthquake deductibles, which can be large.
• Strata plan. Shows what you own and what is common or limited common property, such as a balcony, yard or parking stall.

Red flags

• A small contingency reserve fund compared with the repairs in the depreciation report
• Repeated leaks or insurance claims, or a very high water damage deductible
• Talk of envelope, roof, elevator or piping replacement without a funding plan
• Special levies being discussed but not yet approved (the seller may not have to pay them)
• Lawsuits, CRT disputes or many owners behind on fees
• Large fee jumps from one budget to the next

Rules that changed recently

• Rentals. Since November 24, 2022, stratas can no longer ban or limit long-term rentals. Short-term rental bylaws are still allowed, and B.C.’s principal residence rules for short-term rentals apply in many communities.
• Age restrictions. Only 55+ age bylaws are allowed, with exemptions for caregivers, spouses and children.
• Depreciation reports. Mandatory every five years for stratas with five or more lots (July 2024), prepared by a qualified professional (July 2025).
• EV charging. Stratas with five or more lots must get an electrical planning report by the end of 2026 or 2028, depending on location.

Insurance for strata owners

The strata’s policy covers the building. You need your own condo insurance for your contents, improvements, liability and the strata deductible if a claim starts in your unit. Ask your insurer for deductible coverage that matches the Form B.

Fees: what they cover

Strata fees usually pay for building insurance, common area upkeep, management, landscaping, some utilities and contributions to the contingency reserve fund. Compare fees per square foot with similar buildings, and check what is included (gas, hot water, amenities).