BC is introducing the biggest changes to strata regulations I have seen in over two decades of helping strata owners manage their building assets.
For many years we have offered what we call “predictive analysis” of strata buildings. Predictive analysis is a proprietary method that helps strata councils determine the best strategies for their reserves funding.
Financial Management
Your Time, Your Life: Sometimes That’s not the Case in a Strata or Condo Home
So, you’re the proud owner of a Strata dwelling; or you’re responsible for managing a Strata dwelling; or perhaps you sit on Council for one. Regardless of your role, you have a vested interest in wanting maintenance and repair to be a natural and stress-free part of your day-to-day life. You might think that maintenance […]
Reducing the Risk of Reckless Reconstitution:
Since COVID, headlines have appeared regularly about the challenges strata organizations have finding affordable coverage for their property. Some have even called for governments to intervene. We believe that if you understand how insurers look at your property, you can present your business case in a favourable way and obtain insurance at reasonable rates. We […]
Your Time Machine: Reducing Your Time Commitment While Bridging Today’s Strata to its Desired Tomorrow.
The Work of a Strata and Home Owner Associations (HOA) Manager, Board or Council member, or Strata owner (the Stakeholders) ranges from (a) rewarding & satisfying to (z) a chaotic, time hogging, stress inducing, physical & psychological nightmare. The villains who seek to introduce chaos to Stakeholder’s lives are weather, wear/age, and unexpected events. How, […]
Simple Things: Understanding the Not So Hidden Costs of Strata/Condo Ownership
Many things in life are complex. Too complex. Some things in life are simple, while other things COULD be simpler with a different perspective. Many times, getting the different perspective just needs a little help. For example, did you know that the cost of ownership in a multi-family building typically breaks down as follows: If […]
Peace of Mind Part 4: What is Strata’s Plan to Protect & Enhance the Value of Your Home?
Over the past month we’ve outlined 4 questions you should answer when assessing your Strata/Condo property. Simply put, knowing the answers to these questions will give you the peace of mind needed to get a better night’s sleep. Or put another way, there are lots of things in life that will rob you of your […]
You May Outlive Your Strata, But Not By Much: Maintaining Building Good Health
Our experience helping strata protect the value of their buildings shows that residential multi-units tend to have a much longer life expectancy than other types of buildings, about the same lifespan as humans. This similar longevity invites an interesting comparison between humans and buildings. It helps to start with good genes, a quality construction and […]
Home Inspection: Putting Steroids on This Required Part of Selling Your Home
If you’ve ever bought a new home, then you know the drill. You decide to sell, and the real work begins. 2 huge phases are needed: (1) get your current home ready to put on the market, and (2) get the new home ready once you move in. Within those 2 phases there are 2 […]
Selling Your Strata or Condo: Preparing for the Dreaded Home Inspection
If you’ve ever bought a new home, then you know the drill. You decide to sell, and the real work begins. 2 huge phases are needed: (1) get your current home ready to put on the market, and (2) get the new home ready once you move in. Within those 2 phases there are 2 […]
Avoiding Negative Surprises: Out of Control Condo Fee Increases Can Be Avoided
Our hearts go out to these Condo owners and board members. Such types of negative surprises, either for new buildings, or older buildings with insufficient reserves, damage the harmony that should be the norm when you live or work in a communal building. In this case the increase might have been unavoidable, but for most condo situations […]
A Different Reality: Post Disaster Realities and Pre Disaster Risk Preparedness
I love listening to the stories my boss tells regarding building maintenance mishaps. Not mishaps that occur during maintenance, but ones that occur when maintenance was either not completed properly, or someone decided to “take the risk.” But while taking the risk is a decision based on actuarial competence and statistical probabilities, disasters remain aloof, […]
Predictive Analysis and Your Banker: What Your Banker Wants to See to Approve a Mortgage, and How Predictive Analysis Provides That
A friend told us how they cleaned their home top to bottom to prepare for the Bank inspection for their Mortgage renewal. They wanted to make the best impression to get favourable terms. When you live in a Strata your banker not only looks at the inside of your home, the part you own, but […]
