Living in a strata in Vancouver offers plenty of benefits for many people. Having stringent rules governing your building to ensure the safety and security of residents is something a lot of individuals take comfort in. Understanding how your financial contribution or monthly strata fees are being designated plays a significant role to the care and well being of your property. Staying informed on what is happening with your strata council will keep you abreast of what is occurring within your neighbourhood. Leo Wilk Real Estate lives and breathes the Vancouver market. If purchasing a strata residence is ideal, we can help!
The strata council is an elected group of people who play an integral role on behalf of all of the strata owners in regards to governing the strata corporation. The best thing you can do to stay educated about your home is to attend monthly strata meetings, read the meeting minutes or become an elected member yourself. Maintaining open communication and being polite goes a long way if you need to lodge a complaint or wish to make a recommendation. In some buildings, a strata manager is put in charge of the majority of functions that would otherwise be handled by a strata council. In the event that a strata council has delegated certain powers to a particular strata manager, the council must ensure that obligations under the Strata Property Act, bylaws, rules and regulations are fulfilled.
Strata Council Duties Include:
*organizing and conducting general meetings regularly
*offering contact info to residents and being accessible
*preparing financial statements and the budget
*collecting monies owed to the strata corporations including strata fees
*paying strata corporation bills
*seeking adequate strata corporation insurance
*keeping records of tenants and owners and related documents
*granting tenants and owners exclusive short term use of common property
*completing “Form B: Information Certificates and “Form F: Certificates of Payment”
*enforcing bylaws and rules
There are numerous other strata council duties that can which are a good idea to familiarize yourself with.
Actions Approved By Strata Corporation Votes
While the strata council may act as the main governing body, there are many actions that go to a vote to be determined by the strata corporation owners as opposed to the council. Approving specific levies along with changing existing bylaws or creating new bylaws commonly need to be put to a vote. The owners may vote at general meetings to decide whether to restrict the actions of the council or to pass a resolution. The strata council cannot be restricted by owners if this is contrary to the Strata Property Act bylaws or regulations, if an individual should be not allowed to utilize a recreational facility or if they are fined.
Keeping Residents Safe, Prepared and Informed
An organized strata is responsible for keeping the property and all of the residents running smoothly. Ideally, they will have a decent contingency fund from setting aside a portion of the monthly strata fees to ensure that costly repairs such as a new roof or fixing an elevator won’t leave residents in a lurch. Hiring reputable contractors to handle all of the landscaping and repairs keeps property value high by maintaining a clean and safe aesthetic. Utilizing a common area’s bulletin board to communicate strata council meeting highlights and minutes keeps everyone informed of upcoming events, maintenance, pet concerns or crime.
Strata responsibilities can be challenged from time to time. It is best to speak to residents if possible prior to purchasing in your building to find out if residents are happy and cooperative prior to joining the community. Strata disputes sometime arise when individuals do not agree. Attend your strata council meetings to have a platform to share your ideas and concerns from if they arise. Knowing who your strata council is can help you feel a sense of community within your building. Leo Wilk Real Estate is happy to show you some stellar properties within the strata community. Call us today and let us help you simplify your search.