Strata depreciation reports
A depreciation report projects what a strata will need to spend on its building over the next 30 years, and what owners should be contributing now. Here is what the fees and building ages actually look like across Fairmont Hot Springs strata homes on the market.
Typical monthly fee
$493
Strata homes sampled
53
33%
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Typical monthly fee
$493
Most fees fall between
$100 and $900
Fee per square foot
$0.31
Typical year built
2000
Across 53 strata homes listed in Fairmont Hot Springs, the typical monthly fee is $493, with most falling between $100 and $900.
The typical listed strata here was built in 2000, roughly 26 years ago. Roofs, boilers and common-area systems commonly come due in this window.
Roofs and boilers commonly come due around 25 years, building envelopes around 30. A building's age is the strongest clue to what its next report will focus on.
Source: BCRES MLS via Bridge Interactive, from strata homes currently listed in Fairmont Hot Springsthat publish a monthly fee. Figures describe listed stock, not any individual strata corporation. Whether a specific strata requires a depreciation report, and by when, is set by the Strata Property Act and its regulations: confirm with your strata corporation or a qualified professional. Nothing here is legal advice.