As of December 20, 2021, virtual General Meetings (Annual General Meetings (AGMs) and Special General Meetings (SGMs)) for Strata Corporations in BC were extended until December 31, 2022, without the need for the Strata to have a bylaw in place. Although virtual strata meetings have been the new normal in the strata management industry for
A Residential Tenancy Agreement (also known as a Lease) is a legally binding contract between a Landlord and tenant that includes terms and conditions related to the property being rented. A well-prepared and thorough lease can prevent conflicts and protect both parties during the duration of the agreement. While the Residential Tenancy Branch has a
Winter is one of the most difficult seasons for property owners and landlords. Colder temperatures lead to freezing, snow, and ice (or in the lower mainland, lots of rain). These elements can be a major safety hazard if your property is not well maintained. To add to the safety hazards, increased time spent indoors means
Whether you currently live in a Strata Corporation (condo, townhouse, or a stratified complex) or are looking to purchase a home in one, it is important to understand how Strata Corporations operate and learn some basic terminology. Common Property (CP) and Limited Common Property (LCP) affects who has access to the property and who
In the past, word of mouth and signage were successful when marketing a rental property. Since the pandemic, many things have changed. Rental property owners struggled to get their property in front of potential renters due to increased restrictions such as limited in-person showings, lack of networking, and solely relying on word-of-mouth. Now more than
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
COVID-19 has affected everyone in different ways, including the rental property management industry. The focus has shifted from revenue and portfolio growth to improvement of current procedures and tools. The rental property management industry is not disappearing. It has survived many economic downturns, natural disasters, and other catastrophic events. Instead, Rental Property Managers are modifying
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
