Starting in 2024, strata corporations will be legally required to have a depreciation report performed and produced every 5 years. The option to waive the responsibility to obtain this report has been cancelled. As of 2025, the report must be performed by a handful of experts with specific designations. Rather than waiting until the deadline to have a company produce this report for you, or call for a special levy from the owners to pay for the report up front, our monthly subscription plan offers our clients the opportunity to obtain this report with a monthly payment that will eliminate the need for a special levy or an all-up-front payment approach. Your strata development is required to have this report completed by July 1, 2026 if you are located in the Metro Vancouver, Fraser Valley, or the Capital Regional District. For other regions, the deadline is July 1, 2027.
Clear and simple to understand and straightforward explanations.
Making important financial decisions and where to prioritize maintenance and major projects can be an arduous task. Our depreciation reports clearly address the important issues and advise which projects to prioritize and guide you through proper financial preparation and planning.
Our ongoing depreciation report services provide you with a comprehensive assessment of the property’s common elements, a financial analysis of the current reserve funds, and a detailed 30-year plan for repair and replacement costs. By taking the time to assess everything from the building’s structural components to its mechanical and electrical systems, we are able to produce reports that provide clear and easy-to-follow recommendations for long-term budgeting and planning.
Our report services also include:
Before creating a depreciation report, a thorough inspection of the property will be completed by one of our expert team members, a related professional, and/or council members, depending on the scope of the work. Our team will then assesses all of the major systems and common areas to identify the current condition of each and will put together estimates for any repairs needed.
Using this data, we will prepare a detailed report, including a projected timeline for necessary upcoming repairs and an estimated cost for each, factoring in inflation. We will then compare these projections to the property’s reserve fund to determine if additional contributions will be required to meet future obligations before providing the strata council with three funding models on recommendations for how to proceed and plan in the future.
All of our reports can be purchased under our monthly payment plan, allowing the costs to be built into monthly budgets.
To order a depreciation report, or inquire about our monthly payment plan, simply click the “request more information” button below. Fill in your contact information along with the any other information we need to be aware of before we contact you for further details. One of our team members will be in touch with you as soon as possible.
At Reserve Reports Canada, we strive to make complex financial and structural information easy to digest. All of our reports feature clear and simple-to-understand visuals, including charts and graphs, along with straightforward explanations of key findings.
We make sure to avoid using unnecessary industry jargon to make it uncomplicated for every client to fully comprehend the recommended actions and financial projections. Our simple goal is to empower property owners with the knowledge they need to make important decisions without overwhelming them with the technical details.
Reserve Reports Canada is made up of a team of highly trained professionals, who have undergone rigorous training specific to preparing and analyzing various types of reports, ensuring that they fully understand the technical aspects, as well as the broader financial implications for homeowners. We take pride in being fully compliant with industry standards and regulations at all times.
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