Kelowna Real Estate Market News

During that exciting and nervous time between acceptance of your Offer and Final Subject Removal Day, you often have lots to do and lots of information to read.


When buying a Strata Property you often receive a giant package of information with Strata Minutes, a Form B with Financial information, By-Laws, Rules and a Depreciation Report.


The Depreciation Report is usually quite lengthy and can look a little overwhelming.


In this blog post, I want to give you a quick overview of what it is about and why it is so important to read it.


What is a Strata Depreciation Report?


Think of it as a 30-year Cashflow Forecast for the Common Property in a Condominium or Townhome complex. This typically includes the Buildings, Roads, Landscaping and Recreational Facilities.


It is a very useful document for a Strata Corporation, current Home Owner and a prospective Home Owner to see what capital expenses are coming up and whether there are sufficient funds in the Contingency Reserve Fund to cover them or...

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