Category Archives: Depreciation Reports + Reserve Fund Studies

Reserve Fund Study – The Importance of Scope

    Alberta Condo Law states that condominium corporations are required to establish and maintain a reserve fund that can be used to cover the costs of major repairs or replacements to common property. Since condominium dwellings make up close to 1/5th..

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    Depreciation Report: How To Use It

      So, you’ve received your most recent depreciation report. Now what do you do with it? While it’s obvious to use the depreciation report for planning your strata fees and preparing to save for your reserve fund, the report is a..

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      REIC Depreciation Reports Survey

        The Real Estate Institute of Canada – Greater Vancouver Chapter, recently released an independent study by the Crux Group.  The survey’s intent was to find out how many strata corporations in British Columbia have completed Depreciation Reports and to highlight..

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        Dangerously Old Elevators

          A while back, we published this blog about old elevators in major Canadian cities leading to unanticipated repair and replacement costs for strata corporations. The causes are multi-fold; with so many elevators reaching the end of their life, and an increase..

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          Depreciation Reports – Why Renew Them?

            There are many compelling reasons as to why a strata should renew its depreciation report every three years.  In addition to being the renewal time frame legislated by the province, it makes good sense for owners, buyers and sellers. Three years..

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            Broken Elevators Causes ‘Crisis’ All Over Canada

               (Photo: Shutterstock) We came across an interesting article that highlights the concerns of Canadians over aging equipment and structural issues with faulty elevators. The maintenance and repair of elevators are becoming a major issue, especially in Canada’s largest cities. The..

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              Normac Presents on Mixed Use Developments

                Normac was pleased to be a part of IREM BC Chapter 50 and REIC Greater Vancouver Chapter Educational Seminar Summer Breakfast on June 21, 2016. The seminar’s focus was mixed use developments and air space parcels. The session was led by guest..

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