The Vancouver Island Strata Owners Association (VISOA) have created a great brochure to help Condo Buyers with some of the finer nuances of the Strata Corporation. According to Tony Davis, Director, VISOA,

"Many of the problems new condo buyers experience are a result of lack of
information about condo living. We have prepared a brochure to help potential buyers make informed decisions."

What wonderful luck to have found the perfect condo! The location is great, the unit I’m looking at is on the top floor, I can afford it – just barely , and I love the kitchen.Best of all though is the spectacular view of the mountains.

There is one little thing that’s troubling me. It’s about that big, open space that opens up such a gorgeous view. What if somebody built a high rise in there? That would be terrible. I’d have no view at all.

1. 24 months of strata council meetings, annual general meetings, special general meetings, extraordinary meetings and any meetings of the executive members. Make sure you have the complete set of minutes.
2. Form B Information Certificate along with any Rules, the current budget and the developer’s Rental Disclosure Statement if any.
3. Current By-laws
4. Current Financial statements
5. Registered strata plan, any amendments, and any resolutions dealing with changes to the common property.

If you go into a beautifully renovated unit and fall in love with the interior of the unit and forget to analyze the exterior you may be setting yourself up for future financial and emotional strain.

Remember when buying strata you are not only buying your unit but a share in an existing corporation. If the existing corporation is not performing proper maintenance on the building structure, consider the amount of power you have over making these changes.