What is a Pre-Sale (or New Construction)? New homes sold before or during construction by a company or Developer are considered new construction or pre-sales. Pre-sales are a great option for investors or buyers with time on their side. Upon signing the contract of purchase and sale, a deposit (5-20% of the purchase price) is
A sectioned strata corporation is designed to separate a building with different uses and components. They are commonly grouped into two categories: residential and commercial sections. There are also strata corporations that consist of both sections (residential and commercial) where the strata corporation is responsible for maintaining the common area shared by both the residential
When it comes to hiring a Strata Management company, it is important for your Strata Corporation to consider their needs and the level of service required such as: number of meetings held annually, maintenance requirements, and the balance between the Strata’s budget and the services needed. Other factors to take into consideration are building size
Several times throughout the year, we feature a trade or company that we feel is an important aspect to the Property and Strata Management Industry. This month, as our first featured trade, we are happy to introduce Incredible Restorations. Similar to Century 21 Prudential Estates (RMD) Ltd. Incredible Restorations is a local, family owned and
Hiring a Strata Management company as part of the development process can be highly beneficial for developers and new developments, as there are many obligations under the Strata Property Act (SPA) that the developer is required to follow, such as when to hold the first Annual General Meeting (AGM) and transferring documents to the Strata
An unhealthy strata insurance market is hopefully coming to an end in 2021 with BC insurers agreeing to put an end to ‘best terms pricing’. With ‘best terms pricing’, strata corporations had to pay the highest rate quoted for insurance premiums, even if there were lower rates quoted from different insurers. The reason for this
When you hear the word strata, you probably think of apartment buildings and residential housing complexes. They’re only one piece of the strata management industry. In the Vancouver area, there are many stratified commercial properties and industrial warehouse complexes and a strata manager can help you manage the intricacies of these properties. A strata management
Have you thought about switching careers or starting a new career in a position that has consistent challenges? With the current world economic climate, now might be a great time to try a new, more stable career path. You may have considered a career in real estate as a Realtor®, but felt turned off by
We’ve always been passionate about supporting our local community and vendors. So when we heard about Strata Press we were intrigued at the chance to offer their document management system for our strata management clients. Strata Press is based in Nanaimo, BC, and has created an easy-to-use, centralized system for Realtors, Lawyers, and Notaries to
Every day management companies in the Lower Mainland receive calls from small Strata Corporations ranging in size from 10 to 50 units requesting information on Property Management services and costs. Until now, few management companies have been interested in working with smaller Strata Corporations simply because the cost involved for full management is usually beyond
