Strata corporations required to report material changes in insurance coverage to strata-lot owners

Earlier this month, an amendment to the Strata Property Act came into force, requiring strata corporations to “inform owners and tenants as soon as feasible of any material change in the strata corporation’s insurance coverage, including any increase in an insurance deductible.” This amendment implements one of the 11 recommendations found Read more…

By Kevin Zakreski, ago

A closer look at the Report on Common Property, Land Titles, and Fundamental Changes for Stratas: Should the Strata Property Act continue to require a resolution passed by a unanimous vote to authorize changing the basis on which a strata lot’s share of the contribution to the strata’s operating fund and contingency reserve fund is calculated?

This post is part of a series highlighting key recommendations in the Report on Common Property, Land Titles, and Fundamental Changes for Stratas. For other entries in the series, click here. Brief description of the issue The general rule for strata corporations is to calculate a strata lot’s share of the Read more…

By Kevin Zakreski, ago