Understanding A Depreciation Report

Posted on Friday April 21, 2017 |

A depreciation report provides an inventory of your strata corporation’s common property and assets, their projected 30-year maintenance and replacement cost. It also includes multiple cash-flow funding models for forecasting these costs. Depreciation reports must be completed by a qualified planner and require an onsite inspection of your building.

It is a useful tool for strata councils when it comes to budgeting for capital projects and it also gives transparency for owners and buyers on the building. Below is a preview of our infographic on the steps to take when considering on obtaining a depreciation report. The full infographic can be downloaded by filling out the form below.

1. Know what the Strata Property Act requires.
  • All strata corporations are required to obtain a depreciation report.
  • A strata may waive this requirement by a 3/4 vote at a general meeting
2. Gather owner feedback.
  • Owners should have opportunities to ask questions and discuss the uses and benefits of a depreciation report. 
  • Information sessions or discussions at general meetings are great ways to get owners together review the top.

To download our full infographic Understanding a Depreciation Report infographic, please fill out the form below:

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