What is the History of Strata Management in BC?

What is the History of Strata Management in BC?

What is a Strata?

Strata management offers a democratic environment for multiple owners of a common property. While it is easy to subdivide land into different units for different owners, applying this to buildings was more difficult. The idea of a strata lot was created to give owners the legal right to a particular unit in or on a property shared by other owners where there was also shared common space. 

History of the Strata Property Act

The Strata Property Act was created and is updated by the provincial government. “The B.C. Legislature enacted the Strata Titles Act in 1969. This provided the basic legal framework for strata properties providing certainty and security for purchasers and lenders in dealing with a new type of development” from the British Columbia Law Institute. The Act was updated in 1974 changing to the Condominium Act in 1979. In 2000 it became the Strata Property Act. Each succession of the Act built on the foundations of previous Acts. 

What is the Strata Property Act

The Strata Property Act governs the operation of strata corporations. Owners of strata lots in a common property make up the strata corporation. A strata corporation is responsible for numerous duties imposed by the Strata Property Act such as budgeting, insurance, maintaining and repairing common areas, keeping records, and more. The strata corporation must follow the Strata Property Act. 

The Strata Council

Strata corporations will generally elect a strata council to fulfill their obligations imposed under the Strata Property Act. “The strata council is the elected executive body for the strata corporation.

Typically the strata council is made up of elected volunteer strata owners. They are ultimately responsible for ensuring that the strata corporation follows the Strata Property Act. 

Strata Management Services

Carrying out those responsibilities is often complex which is why many strata councils decide to contract with a strata management company. A strata management company must be licensed in the province of BC and provides expertise, guidance, and tactical support to the elected strata council. 

Contact us for Licensed Strata Management Service

For strata owners and the strata council, it is important to have an understanding of the Strata Property Act. If you have questions about the Strata Property Act or wish for us to provide you with a quote for strata management services, please contact us. 

This entry was posted in Corporate News, PQ NEWS and tagged , , , . Bookmark the permalink.