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 Vernon strata homes on the market.
Typical monthly fee
$400
Strata homes sampled
346
33%
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Typical monthly fee
$400
Most fees fall between
$224 and $764
Fee per square foot
$0.38
Typical year built
2007
Across 346 strata homes listed in Vernon, the typical monthly fee is $400, with most falling between $224 and $764.
The typical listed strata here was built in 2007, roughly 19 years ago. Newer buildings usually face smaller near-term renewals, though reserve contributions still build toward them.
Shared amenities carry the heaviest reserve-fund line items. The most common among listings here: whirlpool, sauna, security/concierge.
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 Vernonthat 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.