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 Richmond strata homes on the market.
Typical monthly fee
$504
Strata homes sampled
1,000
33%
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Typical monthly fee
$504
Most fees fall between
$330 and $796
Fee per square foot
$0.56
Typical year built
2011
Across 1000 strata homes listed in Richmond, the typical monthly fee is $504, with most falling between $330 and $796.
The typical listed strata here was built in 2011, roughly 15 years ago. Newer buildings usually face smaller near-term renewals, though reserve contributions still build toward them.
16% of the listed strata stock in Richmond is 40 years or older, so comparing two buildings here often means comparing where each one sits in its renewal cycle.
Shared amenities carry the heaviest reserve-fund line items. The most common among listings here: exercise centre, recreation facilities, sauna/steam room.
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 Richmondthat 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.