Strata documents checklist

The documents

• Form B (Information Certificate). Strata fees, the contingency reserve fund, special levies and any legal action.
• Minutes, usually the last two years. Council, annual and special meetings.
• Depreciation report. The building’s components, their condition and the planned spending.
• Bylaws and rules. Pets, rentals, renovations, parking, storage and noise.
• Budget and financial statements.
• Insurance certificate. The coverage and the deductibles.
• Engineering reports, if any.
• Strata plan, showing your unit, parking and storage.

Look for

• Leaks, envelope or roof problems in the minutes.
• Special levies proposed or approved.
• A contingency reserve that looks small next to the work in the depreciation report.
• High insurance deductibles, especially for water damage.
• Owner disputes or legal action.
• Bylaws that don’t fit how you want to live. If you have a large dog, read the pet bylaw twice.

Questions to ask

• When were the roof, windows, elevators and boiler last replaced?
• Are there any planned projects or levies?
• Has the building had insurance claims?

Questions people ask

How long do I have to review strata documents?

As long as your offer gives you. A week is common, but it depends on the deal.

Who pays for the strata documents?

Usually the seller provides some and the buyer may order others. Agree on it in the offer.