Category Archives: News for Strata/Condo owners

Our strata has had a deductible of $100,000 for several years due to a number of claims and the inability to approve a resolution to replace our piping. In November we had another claim over $100,000. In one of your … Continue reading →

Our strata corporation has consulted with a lawyer and our property manager and have been advised that if we approve a bylaw that limits the amount an owner would have to pay if they were responsible for a claim, it … Continue reading →

Our strata corporation recently approved a special levy at our Annual Meeting to pay for a deficit of $37,000 from 2019 over runs. The resolution required 3 equal payments March, April and May 1st. At the meeting several owners objected … Continue reading →

Over the past few months across BC. there has been an industry struggle to renew strata corporation insurance polices. With renewals, the cost of the insurance has increased anywhere from 50-300% and the deductibles to cover claims have also increased … Continue reading →

B.C. condo owners are bracing for sticker shock amid surging insurance rates for their homes. “Rates are increasing for people in policies now anywhere from 50 to 300 per cent, and deductibles are going from the conventional $10,000 or $25,000 … Continue reading →

Dear Tony: Is there anything in the Strata Act or legislation that requires a strata council to get 3 bids for projects of a certain value? Our strata council are negotiating with a contractor to replace our siding and our … Continue reading →

Condo Smarts November 20, 2019 Insurance Deductibles Our strata corporation renewed our policy in October and as a result of a number of minor claims in the past 3 years our water deductible has been increased to $100,000. All of … Continue reading →

Our strata corporation renewed their insurance policy in October and our deductible was increased from $25,000 to $100,000, and our policy has increased from $69,000 to $121,000. The cost increase will impose an 8% increase in our annual budget, without … Continue reading →

Making a Complaint If you have been involved in a trade in real estate in which you believe a real estate licensee may have acted improperly, or you have engaged a brokerage to provide you with rental property management or … Continue reading →