SECURE YOUR STRATA'S FUTURE WITH A DEPRECIATION REPORT

BES helps strata corporations meet B.C.'s mandatory depreciation report requirements with comprehensive assessments that protect property values and prevent unexpected costs. Under the Strata Property Act, all strata corporations with five or more lots must obtain depreciation reports on a five-year cycle. As of July 1, 2024, strata corporations can no longer defer this requirement through an annual vote, making compliance more critical than ever.

WHAT IS A DEPRECIATION REPORT?

A depreciation report is a detailed assessment that identifies all common property and assets your strata corporation is responsible for maintaining, along with their projected repair, maintenance, and replacement costs over a 30-year period. Common property extends beyond just buildings. it includes roofing, landscaping, roadways, recreational amenities, and infrastructure such as water, electrical, and sewage systems.

Our reports provide a clear roadmap for maintaining and replacing these assets. We evaluate:

  • existing building components and their remaining service life,

  • projected maintenance and replacement costs, and

  • multiple funding strategies to avoid financial surprises.

Each report includes detailed cash-flow models and an executive summary, giving strata councils the financial foresight needed to build adequate reserve funds, avoid unexpected special levies, and maintain property values for all owners.

MEET YOUR COMPLIANCE DEADLINES

Strata corporations must obtain depreciation reports by:

July 1, 2026, for properties in Metro Vancouver (excluding boat/air-access islands), Fraser Valley, and Capital Regional District (excluding boat/air-access islands)

July 1, 2027, for all other B.C. areas, including Southern Gulf Islands and Bowen Island

New strata corporations established after July 1, 2024, must obtain their first report within two years of their first annual general meeting. As of July 1, 2025, reports must be prepared by designated professionals including engineers, architects, or certified reserve planners. BES works with qualified professionals to ensure your report meets all regulatory standards and deadlines.

MAXIMIZE VALUE WITH COMBINED SERVICES

For cost-effective pricing, BES can complete your Depreciation Report in conjunction with an Electrical Planning Report, ensuring your building is not only financially future-ready but also technically prepared for upcoming needs such as EV charging, heat pump retrofits, and renewable energy integration.

YOUR PARTNER IN STRATA FINANCIAL PLANNING

From initial assessment to final delivery, our team provides depreciation reports that meet regulatory requirements while delivering actionable financial planning tools. By combining technical expertise with strategic forecasting, we help strata corporations protect property values, maintain transparency with owners, and build confidence in long-term financial stability.

Contact us to schedule your depreciation report today