STATUS OF CHANGES TO THE STRATA PROPERTY ACT AND REGULATIONS
Until December 11, 2013, a strata corporation planning to collect a special levy for maintenance and repairs to common property and assets required a 3/4 vote of owners to get the resolution approved.
On December 11, 2013, the Strata Property Act was amended by regulation to allow strata corporations that do not reach the 3/4 vote threshold, but receive 50 per cent or more of the votes, to apply within 90 days to the Supreme Court of BC for approval.
Where the court approves the resolution, it will issue an order allowing the strata corporation to proceed with the special levy and repairs. This change will facilitate important repairs being made in a timely manner before further damage is done to the property.
Contact Agnieszka Stryjecka for more information on Vancouver Real Estate. 778.991.5881 firstname.lastname@example.org