Buying & Selling Stratas/Condos
What is a Strata?
Properties covered by the BC Strata Property Act include condos, duplexes, townhouses, and other types of residential and sometimes commercial developments. Living in a strata development means that while you purchase your property as an individual, all owners within the strata development own common property as a strata corporation. The strata corporation acts as a single unit to determine budgets, develop bylaws, conduct meetings and decision making in cooperation with all owners.
Condo Real Estate: Things to Consider
Because I have extensive knowledge of the concept of strata living, I can confidently guide clients through all critical and relevant strata documents that will need to be reviewed during a sale or purchase of condo real estate. I can speak easily about technical procedures and processes and will break down the details in easy-to-understand language.
Strata documents and information to be aware of include:
- strata rules
- how strata insurance works
- strata fees and what they cover
- financial statements
- council minutes
- strata bylaws
- depreciation report
- Form K
- Form B
Real Estate Investing in Strata/Condos
I work with real estate investors seasoned in condo/strata rentals as well as homeowners looking to invest in a property that falls under the BC Strata Property Act. If you are looking to invest, let me know. I’ll help guide you through the process to build your investment portfolio.