Under BC's strata law, how often must a strata corporation with 20 strata lots obtain a depreciation report?
Correct Answer
A) At least once every 5 years, with no option to waive it
Strata Property Regulation s. 6.21(2) requires a strata corporation to obtain a new depreciation report at least once every 5 years. The 3/4-vote waiver in Strata Property Act s. 94(3) has been repealed, and only strata plans with fewer than 5 lots are exempt (Regulation s. 6.22).
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