Strata living comes with its own rulebook — fees, bylaws, depreciation reports, and meeting minutes that can make or break a purchase. Manan helps buyers read between the lines before they commit.
Real neighbourhood guides across the areas Manan serves.
Both are strata-titled in BC, meaning you own your unit and share ownership of common property through a strata corporation. A condo is typically an apartment-style unit inside a larger building, with shared interior hallways, elevators, and amenities. A townhouse is a multi-level home sharing one or two walls with neighbours, usually with its own front door, attached garage, and a small private yard or patio. Townhouses feel closer to a detached home; condos generally cost less for the same bedroom count.
Strata fees are monthly payments funding shared building costs — typically building insurance, common area maintenance and cleaning, landscaping, management fees, and contributions to the contingency reserve fund. What's included varies a lot: some buildings cover heat and hot water, others don't. Amenity-heavy buildings with pools, gyms, and concierge carry higher fees. Fees are set by the strata based on its budget and aren't negotiable by individual owners.
A depreciation report is a professional assessment projecting a building's major component lifespans and repair costs over 30 years — roof, windows, plumbing, elevators, building envelope. It tells you whether the contingency reserve fund is adequate or whether a large special levy is likely. A building without a current depreciation report, or one showing a badly underfunded reserve, is a genuine risk worth understanding before your subjects expire.
A special levy is a one-time charge to owners when the strata needs funds beyond its reserve — typically for major repairs like re-roofing or envelope remediation. Yes, you can inherit one: if a levy is approved after you take possession, you pay it as the current owner, even if the underlying problem predates your purchase. This is exactly why reviewing minutes and the depreciation report before subject removal matters so much.
BC removed strata rental restriction bylaws in November 2022 under Bill 44, so stratas can no longer ban long-term rentals — any existing rental restriction bylaw is unenforceable. Stratas can still restrict short-term rentals of under 30 days (Airbnb-style), and 55+ age restrictions remain permitted. Municipal zoning and provincial short-term rental rules apply on top of strata bylaws, so confirm all three layers for the specific building and city.
Request at least two years of council meeting minutes, the current budget and financial statements, the depreciation report, the bylaws and rules, and the Form B Information Certificate. Look for recurring maintenance complaints, envelope or water ingress issues, contentious council disputes, upcoming projects mentioned but not yet funded, and the reserve fund balance relative to the building's age. Manan reviews these with every strata buyer and flags what stands out.
Other ways Manan helps buyers across the Fraser Valley.
Every situation is different — a short call is the fastest way to figure out the right approach for yours.