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Services

We provide reporting services for all forms of strata corporations located in the lower mainland. Regardless of your strata’s size or age and whether yours is a Townhouse Complex, Condominium, High Rise or Commercial Strata, Strata Life Reporting Services has the expertise to handle all your common area reporting needs.

DEPRECIATION REPORTS

At Strata Life Reporting Services, our Depreciation Reports are prepared by Certified Reserve Planners and exceed all of the legislative requirements set out under the Strata Property Act. Below is an outline  of the procedures and the services included in our Functional Reporting system:

 

  • Perform an on‐site visual inspection of the properties common area components and assets including but not limited to: structural components, exterior building components, interior finishes, mechanical, plumbing and electrical systems, landscaping and grounds, common amenities and facilities.
  • Photograph, assess and categorize components for inclusion in the final report.
    • Review of all available related documents including strata plan, strata bylaws, architectural and mechanical drawings, professional assessment reports, maintenance records etc.
    • Consult with strata representatives, service providers and related trades to ensure accuracy in relaying the pertinent facts and information associated with the project.
    • Identify common property and limited common property that the strata lot owner, and not the strata corporation is responsible to maintain and repair.
    • Compile a component inventory, description and estimated service life over 30 years of the items that comprise the common property, common assets and limited common property that the strata corporation is responsible to maintain or repair.
    • Review of the strata corporation’s financial records including operating budget, general ledger, contingency reserves fund balances and current reserves fund contributions.
    • A draft of the Benchmark Analysis (a key portion of the report that identifies the number of components, their remaining lifespan and their replacement cost) will be issued to the client for their review and feedback.
    • At the conclusion of the process our Certified Reserves Planner (CRP) will meet with council to review the findings of the report and present funding models.
    • Two hardcopy reports will be provided along with an electronic PDF copy to the Client.
    • This proposal includes two meetings with the strata council and/or Property Manager for presentation of the funding models prior to issuing the final report.
    • At the conclusion of the process our Certified Reserves Planner (CRP) will meet with council to review the findings of the report and present funding models.
    • Two hardcopy reports will be provided along with an electronic PDF copy to the Client.
    • This proposal includes two meetings with the strata council and/or Property Manager for presentation of the funding models prior to issuing the final report.

    WARRANTY REVIEWS (15 Month, 2 Year, 5 Year)

    Make the most of your strata corporation’s common area 2-5-10 Home Warranty Insurance coverage by filing timely and effective reports.

    Strata Life Reporting Services provides the following reviews to align with your warranty coverage:

    • Covers any defects in materials and labour or violations of the Building Code (subject to conditions) related to interior and exterior common area property of strata corporations. Includes items covered under the 24 month and 5 year scope of coverage.
    • Covers defects in materials and labour supplied for the exterior cladding, caulking, doors and windows (some limits apply) and violations of the Building Code (subject to conditions). Includes items covered under the 5 year scope of coverage.
    • A 24 Month Mechanical Review is available for strata corporations that wish to review the electrical, plumbing, Heating Ventilation and Air Conditioning delivery systems that are included in this coverage.
    • Covers building envelope defects, this includes the components that separate the indoors from the outdoors including the foundation , roof , windows and doors including a defect that permits unintended water penetration such that it causes, or is likely to cause, material damage to the new home.
    *Strata Life Reporting Services recommends that reviews be scheduled 3 month prior to expiration in order to allow sufficient time to complete and deliver reports to the intended recipients.

    MAINTENANCE PLANNING

    Maintenance Planning is an essential part of managing the long term health and value of any strata complex.

    Strata Life Reporting Services will assess your strata’s maintenance requirements and provide a detailed report letting you know what needs immediate attention, what’s coming up and what to plan for down the road.

    Maintenance Planning will allow your strata corporation to budget and address the items that require attention throughout the course of a regular year as well as items that occur less often but fall below a determined threshold.

    Contact Strata Life Reporting and let us put together a custom Maintenance Plan for your strata today!

    ATTENTION NEW STRATAS

    Package and save! Your Strata Corporation can save time and money by packaging our reporting services.

    Combine Depreciation and Warranty reporting to meet all your legislative requirements and common area planning needs.

    Our packages provide cost savings, continuity in reporting and the convenience of ongoing correspondence with a single provider.

    The following example provides a package that covers your strata corporation’s reporting needs for the first 7.5 years!

    • 15 Month Warranty Review (12 month mark)
    • Depreciation Report, Initial (18 month mark)
    • 2 Year Warranty Review (21 month mark)
    • Depreciation Report, 3 Year Update*
    • 5 Year Warranty Review

    Ask us about our no interest payments plans on multi-year service packages.

    Contact us and we can put together a package to suite your strata’s age and specific needs.

    *Expires at 90 month mark.