Before removing subjects on a BC strata, review the Form B Information Certificate, bylaws and rules, recent council and general meeting minutes, the current budget and financial statements, the depreciation report, any engineering reports and the insurance summary. You're looking for approved or likely special levies, a thin contingency reserve fund, major repairs coming up, litigation, and rules that don't fit how you plan to use the home.
Strata is how most condos and townhomes are owned in BC, and it covers some duplexes and bare land communities too. You own your strata lot plus a share of the common property, such as the roof, hallways, parking areas and landscaping. You also share the bills. That's why the documents matter as much as the showing.
What's in a strata document package
| Document | What it tells you |
|---|---|
| Form B Information Certificate | Monthly fees, what the owner owes, the contingency reserve balance, approved special levies, litigation, parking and storage. It comes with the rules, the current budget and the latest depreciation report, if there is one. |
| Bylaws and rules | Pets, age limits, renovations, short-term rentals, parking and how the building is run. |
| Minutes | What owners and council are actually dealing with: leaks, complaints, repairs being put off and arguments over money. Ask for at least the last two years. |
| Budget and financial statements | Whether fees cover real costs, and whether owners are behind on payments. |
| Depreciation report | A 30-year forecast of major repairs and how they could be funded. |
| Engineering reports | The condition of specific things like the envelope, roof, parkade or plumbing. |
| Insurance summary | What the strata's policy covers and how high the deductibles are. |
| Strata plan | Your lot, your unit entitlement and any limited common property, like a patio or parking stall. |
The Form B: read it first, and check its date
Under the Strata Property Act, a buyer is entitled to a Form B. It's a snapshot, so being recent doesn't make it current. BCFSA points out that a Form B under 30 days old can still be out of date if an annual general meeting has since approved a new budget, or if the strata has since been sued. Ask for a fresh one, or confirmation from the strata that nothing has changed.
- Fees. Confirm the amount and when it last changed.
- Amounts owing. Check what the seller owes the strata, and that it'll be dealt with at closing.
- Special levies. Check what's been approved and what's still payable.
- Litigation or arbitration. Ask for the details of anything disclosed. A small dispute and a building-wide claim are very different.
- Parking and storage. Confirm which stall and locker are actually tied to the unit, and how. Don't assume the listing has it right.
Strata fees: cheap isn't always good
Fees fund two things: the operating budget for day-to-day costs like insurance, maintenance and management, and the contingency reserve fund, which is the building's savings account. Low fees can simply mean the building is under-saving. Since November 2023, the minimum yearly contribution has generally been 10% of the operating budget, but the minimum isn't a promise that it's enough. Compare what's in the fund with what the depreciation report says is coming.
How to read a depreciation report
A depreciation report looks at the building's major components and forecasts repair and replacement costs over 30 years. Skip to the funding section, and check three things:
- Which big items come due in the next five to ten years
- Whether the fund is on track to pay for them, or whether a levy looks likely
- How old the report is, and whether the owners have acted on it
The rules have tightened. Since July 2024, stratas can no longer defer a report with a three-quarter vote, and reports must be renewed at least every five years. Outside Metro Vancouver, the Fraser Valley and the Capital Regional District, stratas without a report dated after 2020 generally have until July 1, 2027 to get one. So some Okanagan buildings may still not have a current report. If there isn't one, lean harder on the minutes and any engineering reports.
As a simple example, if a $500,000 roof is due in three years and the fund holds $150,000, owners may be asked to cover much of the gap through a special levy.
Who pays a special levy?
This is a point to settle in your contract, not after you've moved in. Timing matters: a levy can be approved after your offer is accepted, or be discussed in the minutes but not yet voted on. Have your lawyer and agent address it in the contract terms, and watch for a general meeting scheduled before your completion date.
Bylaws that can change your plans
- Rentals. Since November 2022, BC stratas generally can't restrict long-term rentals. Short-term rentals are different. Check the bylaws and local rules before counting on that income.
- Age. Age restriction bylaws are generally limited to 55 and over. Confirm how that applies to you and anyone who'll live with you.
- Pets. Stratas can limit the number, size or type of pets. Don't just take the listing's word for it.
- Renovations. Flooring, plumbing and windows often need written approval. Look for flooring underlay rules if you're planning to replace carpet.
- Parking and vehicles. RVs, boats, trailers and work vehicles are often limited, which is a common surprise in the Okanagan.
Insurance: check the deductibles
The strata insures the building, but your own policy matters too. Look at the deductibles on the strata's policy, particularly for water damage. If a leak starts in your unit, you could be charged back up to the deductible, depending on the bylaws and the situation. Show the strata's insurance summary to your own insurer and ask about deductible and loss assessment coverage.
Red flags in the minutes
- Repeated leaks, or the same repair coming up meeting after meeting
- Repairs being deferred to keep fees down
- Owners behind on fees, or a fund that's shrinking
- Talk of an engineer, an envelope problem or a levy that hasn't been voted on yet
- A big insurance claim or rising premiums
- Disputes between owners and council, or management companies changing often
None of these automatically means you should walk away. They mean you should ask more questions, and that the price should reflect what you find.
Not all stratas work the same way
- Townhomes and bare land stratas. Check who's responsible for roofs, exteriors and yards. It varies, and it changes what the fees should be.
- Sectioned stratas. A complex with residential and commercial sections can have separate fees and funds, so you may need a Form B for the section too.
- Strata on leased land. Some West Kelowna stratas sit on Westbank First Nation land, which adds a lease to review. See my guide to freehold vs leasehold in West Kelowna.
- Brand new stratas. There's little history to read, and early budgets can be optimistic, so check the disclosure statement carefully.
Your strata checklist before removing subjects
- A current Form B, with attachments
- Bylaws, rules and any recent amendments
- Council and general meeting minutes, at least the last two years
- Current budget and recent financial statements
- Depreciation report and any engineering reports
- Insurance summary, reviewed by your own insurer
- Confirmation of parking and storage
- Your lawyer's or strata reviewer's opinion on anything you don't understand
Most buyers also have a rescission period on BC homes, but it's better to find problems before you remove subjects. Thinking about a particular building? See my West Kelowna strata directory, or book a consultation and we'll go through the documents together.
General information only, not legal, financial or insurance advice. Rules can change and every strata is different. Confirm the details for a specific property with your lawyer and insurer. Sources: BCFSA, Province of BC strata housing and BC Laws.