Strata depreciation reports
Depreciation reports in Westbank
Fees and building ages for 59 Westbank strata homes on the market.
- Typical monthly fee
- $390
- Most fees fall between
- $294 to $700
- Fee per sq ft
- $0.41
- Typical year built
- 2007
Source: BCRES MLS®, 59 listed strata homes that publish a monthly fee.
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New strata listings and price drops in Westbank.
- Typical monthly fee
- $390
- Most fees fall between
- $294 to $700
- Fee per sq ft
- $0.41
- Typical year built
- 2007
Source: BCRES MLS®, 59 listed strata homes that publish a monthly fee.
What the report tells you
What a depreciation report costs, and why every strata now has one
It is now required, with a deadline
Every BC strata with five or more lots must hold a current depreciation report. In Metro Vancouver, the Fraser Valley and the Capital Regional District the deadline is July 1, 2026; elsewhere in the province it is July 1, 2027. Stratas can no longer vote each year to skip it.
It is updated every five years
A report from 2021 is due again now.
It costs the strata thousands
Usually between $5,000 and $30,000, paid by the strata.
Only six kinds of professional may write one
Since July 1, 2025, it must be written by an engineer, architect, applied science technologist, accredited appraiser, certified reserve planner or quantity surveyor.
Requirements and dates verified against gov.bc.ca on 2026-07-24. Whether a specific strata is caught by the deadline is set by the Strata Property Act. Nothing here is legal advice.
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What Westbank strata fees look like
Across 59 strata homes listed in Westbank, the typical monthly fee is $390, with most falling between $294 and $700.
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.
Where Westbank buildings sit in their renewal cycle
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. Bars share one scale from zero.
Under 10 years
17% of listings
10 homes
10 to 24 years
41% of listings
24 homes
25 to 39 years
31% of listings
18 homes
40 years and older
12% of listings
7 homes
What drives the reserve fund here
Amenities that carry heavy reserve-fund line items, with how many of the sampled listings have each.
- Whirlpool 3
Written and maintained by Ray Rasouli, REALTOR®, licensed in British Columbia and founder of Relta Real Estate.
Source: BCRES MLS® via Bridge Interactive, strata homes currently listed in Westbank that publish a monthly fee, and gov.bc.ca for the rules.
NOTE: This representation is based in whole or in part on data generated by the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board or Real Estate Board of Greater Vancouver which assumes no responsibility for its accuracy. The information contained on this site is based in whole or in part on information that is provided by members of The Canadian Real Estate Association (CREA), who are responsible for its accuracy. CREA reproduces and distributes this information as a service for its members and assumes no responsibility for its accuracy. MLS®, Multiple Listing Service®, and REALTOR® are trademarks of the Canadian Real Estate Association (CREA).
General information, not legal advice.
Source: BCRES MLS via Bridge Interactive, from strata homes currently listed in Westbank that 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.