Glossary · Strata and condos
Depreciation report
A depreciation report is an engineer's inventory of a strata building's common components, like the roof, windows and elevators, with a long-term forecast of when each needs repair or replacement and what it will cost.
BC tightened the rules in 2023–2024 so most strata corporations must now obtain one and update it regularly, rather than waiving it by vote. Compare the report's recommended reserve contributions with what the strata actually collects: a gap usually becomes a special levy later.
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General information, not legal or tax advice. Rules change; confirm the current figures with the province or your notary or lawyer before relying on them.
