What are the different types of strata in BC?

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What are the different types of strata in BC?​

Different Kinds of Strata – Province of British Columbia Strata housing includes: duplexes, high rise condos, townhouses and single family homes bare land “strata subdivisions”. There are also commercial, industrial and mixed-use strata developments.

Is insurance available for BC’s strata corporations?​

With a bill introduced in the legislative assembly earlier this week, the British Columbia government is proposing amendments to the Strata Property Act to address concerns over the cost and availability of insurance for strata corporations.
Is strata a good investment?
Strata properties are a popular housing choice in B.C. for the convenience, security, added amenities and good value. Over 1.5 million people live in strata housing. Strata housing can include: condos, townhouses, duplexes, even single family homes in bare land strata corporations (“strata subdivisions”).

What is strata type housing?​

Strata housing can include: condos, townhouses, duplexes, even single family homes in bare land strata corporations (“strata subdivisions”). In strata housing, the owners own their individual strata lots and together own the common property and common assets as a strata corporation.

Can a Strata Corporation buy goods and services?​

For example, a strata corporation may buy goods or services, sue or be sued. For a bare land strata corporation, there will be a strata plan filed with the Land Title Office. The strata plan should be clearly labelled as a bare land.
How can you tell if a building is strata-titled?
You can’t tell by looking whether a building or development is strata-titled. A single family home in a bare land strata development (“strata subdivision”) can look identical to the single family home across the street which is not in a strata corporation.

Is earthearthquake mandatory for Strata Corporations in BC?​

Earthquake is not listed by the regulation and is not required as mandatory strata corporation property insurance. However, strata corporations in the earthquake-prone areas of British Columbia are strongly advised to purchase earthquake insurance.

What is the province doing about strata insurance in BC?​

The Province has taken steps to help address this issue. The Province directed the BC Financial Services Authority (BCSFA) to research the strata insurance market in B.C. The BCFSA published an interim report in June 2020, and a final report was released on December 18, 2020.