I have listed a new property at 2057 GENEVA CRT in Abbotsford.
Build your dream home today! Flat lot tucked away in a great cul-de-sac location in central Abbotsford just minutes to all amenities including walking distance to Mill Lake, Abbotsford Regional Hospital and all levels of schools. Beautifulhouse plans already made for a 4900 sqft 3 storey home with a legal suite. Plans approved from the City and to be sold with the property. Call today for the details, this won't last long!
Read Full Story
I have listed a new property at 35708 ZANATTA PL in Abbotsford.
Beautiful custom built home in great East Abbotsford location - across from Delair Park, minutes from shopping and eash highway access! This 3-storey home offers a full walk-out basement, legal suite, and views to the south west. Insideyou'll notice extensive detail with crown moulding, high ceilings, two master bedrooms and more! The rec room and media area below offers a wet bar, separate entry and offers potential for a home based business. Call today to schedule your showing!
Read Full Story

 

If you are buying a condo or any other strata property, it’s essential that you fully understand how strata corporations work. You may decide that you want to be on the council or you may decide to take more of a back seat. Either way, you need understand the system and processes in place to ensure your building is being well managed and your investment is protected.

 

Strata Corporation as Local Government


The Strata Property Act works like the Canadian constitution in how it divides powers, obligations and rights between owners and strata councils. In fact, it creates a structure that often mirrors our provincial and federal governments.

 

The owners in a strata corporation can be viewed as the legislative branch of government. General meetings are like legislative sessions, but instead of representing the interests of constituents, each owner represents the interests of their strata lot. The owners in a strata corporation control the budget and generally need to approve capital and unexpected expenditures and any significant changes by three-quarters or unanimous vote.

 

The strata council is the executive branch of the strata corporation. Strata councils manage day-to-day affairs, spend money approved by the owners and enter into agreements on behalf of the strata corporation. Strata councils also set the agenda for most general meetings, determine whether owners have breached bylaws and rules and hear rental restriction hardship exemption applications.

 

Like most government bodies, strata corporations are set up to be self-policing. If owners don’t like how their building is being run, they can elect a new strata council. When strata councils or owners fail to meet their legal obligations under the Strata Property Act and the bylaws, they can call on the courts to protect their rights or require another party to fulfill their obligations.

 

Access to Information


Under the Strata Property Act and regulations, strata corporations must maintain a comprehensive set of records. Owners may inspect or request copies of these records and strata corporations must produce the records, subject to some limitations, within one or two weeks.

 

Voting and Holding Office


Generally, every owner has the right to vote at a general meeting and stand for strata council, subject to a single exception. The Strata Property Act permits a strata corporation to pass a bylaw restricting an owner’s right to vote or stand for council if the strata corporation is entitled to file a lien against the owner’s strata lot.

 

Only certain kind of debt are subject to a strata lien and a strata corporation must deliver a special demand for payment at least two weeks before denying an owner the right to vote or stand for council. Outstanding fines cannot be used to prevent an owner from voting or holding office.

 

Calling Meetings and Setting the Agenda


While a strata council can call a general meeting at any time, the Strata Property Act allows owners to call a special general meeting or require that a strata corporation include one or more resolutions on a meeting if owners representing at least 20% of the votes sign a petition requesting that one or more resolutions be put to the owners.

 

Where a demand is made under section 43 of the Strata Property Act, astrata corporation must call a special general meeting within four weeks and place the requested resolutions at the top of the meeting agenda. Where a demand is made under section 46 of the Strata Property Act, a strata corporation must include the requested resolutions in the agenda for the next general meeting.

 

Directing and Restricting Council


Owners have the power to direct a strata council to take certain action or restrict a strata council’s authority by passing a majority resolution under section 27 of the Strata Property Act.

 

Good Governance Protects Your Investment


In my law practice, I encourage strata corporations and owners to adopt good governance practices in order to strengthen their communities. Strata corporations and owners that obtain timely and knowledgeable legal advice are often able to avoid or minimize conflict and reduce liability while building healthy communities and a better return on their investment.

 

For additional information on this and other strata property topics, visit my free online strata law guide at www.stratalaw.ca. Finally, always remember that this article provides general reference information, not legal advice. If you have a legal problem, speak with a strata lawyer.

 

Source: REW.ca

Post CommentComments: 0Read Full Story
I have listed a new property at Aldergrove Langley, Langley.

Great oppportunity! Beautiful 20 acre property fully planted with Raspberry in Langley. Well drained flat property with a a great opportunity to build your estate home.

Call Sat for more details.

Read Full Story
Categories: Abbotsford East, Abbotsford Real Estate | Abbotsford Real Estate | Abbotsford West, Abbotsford Real Estate | Aberdeen, Abbotsford Real Estate | Agassiz, Agassiz Real Estate | Aldergrove Langley, Langley Real Estate | BC real estate, luxury homes, luxury home for sale Vancouver | Bradner, Abbotsford Real Estate | British Properties, West Vancouver Real Estate | Burnaby Real Estate | Burnaby Real Estate | Cambie, Vancouver West Real Estate | Capitol Hill BN, Burnaby North Real Estate | Cedar Hills, North Surrey Real Estate | Central Abbotsford, Abbotsford Real Estate | Chilliwack N Yale-Well, Chilliwack Real Estate | Chilliwack Real Estate | Chilliwack W Young-Well, Chilliwack Real Estate | Cloverdale BC, Cloverdale Real Estate | County Line Glen Valley, Langley Real Estate | Downtown NW, New Westminster Real Estate | Downtown VW, Vancouver West Real Estate | Eagle Mountain, Abbotsford Real Estate | East Burnaby, Burnaby East Real Estate | economics | Grandview VE, Vancouver East Real Estate | Guildford, North Surrey Real Estate | Hope Center, Hope Real Estate | HST out, BC home tax | Langley Real Estate | Langley City, Langley Real Estate | Market Trends | Matsqui, Abbotsford Real Estate | Mission BC, Mission Real Estate | Mission Real Estate | Morgan Creek, South Surrey White Rock Real Estate | Mount Pleasant VE, Vancouver East Real Estate | N. Delta Real Estate | Northwest Maple Ridge, Maple Ridge Real Estate | Otter District, Langley Real Estate | Panorama Ridge, Surrey Real Estate | Poplar, Abbotsford Real Estate | Port Kells, North Surrey Real Estate | Promontory, Sardis Real Estate | Queen Mary Park Surrey, Surrey Real Estate | Real Estate Update | Sardis East Vedder Rd, Sardis Real Estate | Selling your home | Serpentine, Cloverdale Real Estate | Sullivan Heights, Burnaby North Real Estate | Sumas Mountain, Abbotsford Real Estate | Sumas Prairie, Abbotsford Real Estate | sumas, Abbotsford Real Estate | Surrey Real Estate | The Crest, Burnaby East Real Estate | Vancouver Heights, Burnaby North Real Estate | West Central, Maple Ridge Real Estate | West Newton, Surrey Real Estate | Westwood Plateau, Coquitlam Real Estate | Whalley, North Surrey Real Estate | Willingdon Heights, Burnaby North Real Estate | Willoughby Heights, Langley Real Estate | Yale, Hope Real Estate

Search Listings Now!

Ready To Sell?

Insider Access