Depreciation Reports &
Reserve Fund Studies in the BC Interior
Summit Appraisal & Consulting Ltd. provides professional Depreciation Reports, also known as Reserve Fund Studies, for strata corporations throughout the Kootenay, Boundary, and Southern Interior regions of British Columbia.
These reports help strata corporations plan for future repair and replacement costs, maintain long-term financial stability, and meet current British Columbia strata requirements.
We provide reserve fund planning services for:
✓ Townhouse Developments
✓ Bare Land Stratas
✓ Mixed-Use Stratas
✓ New Developments
✓ Strata Councils
✓ Property Managers
✓ Insurance Planning Support
What is a Depreciation Report?
A Depreciation Report is a long-term planning document that identifies common property, building components, and shared assets, then estimates the timing and cost of future maintenance, repair, and replacement work.
In practical terms, it helps strata councils and owners understand upcoming capital costs and plan adequate reserve funding over a 30-year time horizon.
Plan Future Repairs
Identify major building components and anticipate repair or replacement costs before they become urgent.
Support Reserve Fund Planning
Give strata councils and owners a clearer basis for contingency reserve fund contributions and long-term budgeting.
Reduce Surprise Special Levies
A clear capital planning document helps reduce unexpected financial pressure on owners.
Improve Buyer & Owner Confidence
Depreciation Reports provide valuable information to strata owners, purchasers, mortgage providers, and insurance professionals.
When Do I Need a Depreciation Report in BC?
Effective July 1, 2024, British Columbia strengthened the requirements for strata depreciation reports. Strata corporations with five or more strata lots are required to obtain a Depreciation Report on a five-year cycle.
✓ Strata corporations with five or more strata lots must obtain a report every five years.
✓ Strata corporations may no longer defer the report by annual ¾ vote.
✓ Many strata corporations in the BC Interior must obtain a report by July 1, 2027 if they do not already have a current report.
✓ New strata corporations have specific timelines based on when the strata corporation was established.
Frequently Asked Questions
How often is a Depreciation Report required in BC? +
In British Columbia, strata corporations with five or more strata lots must obtain a Depreciation Report every five years.
What is the difference between a Depreciation Report and a Reserve Fund Study? +
The terms are often used interchangeably. In British Columbia, “Depreciation Report” is the common legislative term, while “Reserve Fund Study” is also commonly used within the industry.
How much does a Depreciation Report cost in BC? +
Pricing depends on the size, complexity, location, and nature of the strata development. Submit a request and Summit Appraisal & Consulting Ltd. will provide a customized quote.
Why Choose Summit Appraisal?
Summit Appraisal & Consulting Ltd. combines appraisal expertise, local market knowledge, building cost analysis, and professional reporting experience to assist strata corporations, property managers, and strata councils with long-term capital planning.
Request a Depreciation Report Quote →