The B.C. provincial government has introduced new regulations making depreciation reports mandatory for strata corporations in B.C. Strata corporations of less than 5 units will be exempt from the requirements, plus a strata corporation may consider exempting itself by passing a 3/4 vote resolution. Changes to the Form B, Information Certificate were also introduced.
- "What to know about Depreciation Reports" – a CHOA information guide
- A copy of the CHOA News Release may be found here
- A copy of the regulations may be found here
- A copy of Tony Gioventu's Condo Smarts column re: Depreciation Reports and Form B changes may be found here
- Additional information is available at the B.C. Government's Strata Property website
- A copy of the Strata Property Act Form B (as of March 1, 2012) may be found here (PDF) or here (Word doc).
- A copy of a Depreciation Report Request For Proposal may be found here (PDF) or here (Word doc).
- A copy of the OIC pertaining to 1) how long a strata corporation must maintain depreciation report records, and 2) when a strata corporation that was formed after December 14, 2011 must obtain a depreciation report is available here (PDF).
- Letter to Minister Coleman: Depreciation Reports and Reserve Fund Studies, July 5, 2010 (PDF)