Monthly Archives: April 2013
9.Who enforces the Strata Property Act?
The Strata Property Act is “self-enforcing” meaning that the strata corporations themselves must enforce the Act, bylaws, and rules through the levying of fines for offenses or placing liens on strata units that do not pay their assessment. At the …
23. How much money must be in the Contingency Reserve Fund?
Regulation 6.1 requires that the Contingency Reserve Fund be equal to at least 25% of the Operating Fund. If the reserve fund is below that amount at the time of the AGM, an amount equal to 10% of the operating …
4. What is the difference between a strata and a co-op?
Owners in a strata corporation have title to their strata lots. Owners in a co-op do not have title to their unit. They own shares in the co-op.
1. What information must the strata corporation collect from, and provide to owners and how is collecting and releasing information affected by the Personal Information and Privacy Act?
The strata must provide to owners or their designated representatives all of the information required under sections 35 and 36 of the Strata Property Act. The Privacy Act cannot be used as an excuse for not collecting or releasing information …