Facebook Twitter

Stratas in BC › BC Startup Rules

Start Up Rules in British Columbia

In Alberta, there are no defined rules for the accounting and budgeting on start-up. However, this is not the case in British Columbia.
The British Columbia Strata Act has defined rules, obligations, on the startup and turnover to the owners after development. These are detailed in Part 3 of the Act and Regulations.
Some key provisions we must highlight are:
The developer must pay all common property expenses that accrue to the end of the first month in which the first strata unit is conveyed to a unit owner
After this month:
The regular annual budget, determined and managed by the Board of Directors begins in the first month after the AGM