What is a Strata? A Plain-English Guide for Newcomers
If you moved to Canada from a country without condos or townhouses, "strata" is a confusing word. Here's exactly what it means and what you need to check before buying.
Harie Srivastav
Licensed Realtor · M.Eng UBC · Surrey, BC
What Exactly Is a Strata?
In British Columbia, a "strata" is the legal term for shared property ownership — what many countries call a condominium or apartment corporation. When you buy a strata unit, you own your individual unit outright, but you share ownership of common areas (hallways, gym, roof, parking structure) with all other owners.
The strata is governed by a Strata Council — elected owners who make decisions on behalf of the building. They hire property managers, approve budgets, and enforce the strata bylaws.
The Three Fees You Need to Understand
1. Strata Fees (Monthly) Every owner pays monthly strata fees. In Surrey, expect:
- Condo (1 bed): $300–$600/month
- Townhouse: $250–$450/month
- Larger units: $500–$900/month
These cover building insurance, maintenance, landscaping, and your contribution to the contingency reserve fund.
2. Special Levies If the building needs a major repair (new roof, elevator replacement, parking lot repaving) and doesn't have enough in the reserve fund, all owners get hit with a special levy. A $50,000 special levy on a 100-unit building = $500 per unit. Some levies are much larger.
3. Contingency Reserve Fund (CRF) This is the building's savings account for future repairs. Before you buy, ask for the latest depreciation report — it shows the current CRF balance and upcoming repair costs. A well-funded CRF means lower risk of surprise levies.
What to Check Before You Buy
- Strata documents package — Request the last 2 years of meeting minutes. Look for recurring complaints, unresolved repairs, or owner disputes.
- Depreciation report — Is the CRF adequately funded? Are big repairs coming?
- Strata bylaws — Can you rent it out? Are pets allowed? Age restrictions?
- Insurance deductible — Strata buildings have a master insurance policy. If you flood a neighbour, you may be responsible for the deductible, which can be $100,000+.
The Surrey Angle
In Surrey's Fraser Heights and Guildford areas, many strata buildings were built in the 1990s and are now hitting major repair cycles. Always request a depreciation report — buildings without one are a red flag in BC.
Ready to walk through a specific strata before you buy? Book a free 30-minute call at calendly.com/harie-realty/30min
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