Strata owners and residents will have an opportunity to shape new regulations meant to improve accountability within strata corporations through a public consultation survey launched this week.
The new rules are expected to be in place by fall 2011 and will help protect strata owners by requiring strata corporations to provide:
- Audited annual financial statements.
- Depreciation reports to help strata corporations plan for future maintenance costs.
- Better disclosure for purchasers regarding the parking and storage that come with the strata unit.
Close to 1,000 strata owners have already pre-registered for the survey.
A second public consultation concerning better ways to resolve disputes is scheduled to take place later in 2011.
The survey will be available until March 7 at 4:30 p.m. and can be accessed directly at:
https://securesurveys.gov.bc.ca/welcomeALL.pl?SURVEYNAME=stratasurvey1
For more information on the survey and strata corporations, visit: http://www.housing.gov.bc.ca/housing/strata.htm.
