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It primarily involves multi-unit condominium (or strata) buildings damaged by rainwater infiltration in the Lower Mainland and Vancouver Island regions of coastal British Columbia (B.C.). In B.C. alone an estimated $4 billion in damage has occurred to over 900 buildings and 31,000 individual housing units built between the late 1980s and early ...
Strata properties are a popular housing choice in B.C. because it is convenient, provides security and added amenities and is usually less costly than buying a single-family home. [ 5 ] As the price of single-family housing has soared to unprecedented levels in Vancouver , the number of new condominium sales has increased, along with prices.
The Office of the British Columbia Ombudsperson is one of ten provincial ombudsman offices in Canada. It receives enquiries and complaints about the administrative practices and services of public agencies in British Columbia . [ 1 ]
The BCFSA is responsible for licensing individuals and brokerages engaged in real estate sales, rental and strata property management. The BCFSA also enforces entry qualifications, investigates complaints against licensees and imposes disciplinary sanctions under the Act.
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Strata title is a form of ownership and housing tenure devised for multi-level apartment blocks and horizontal subdivisions with shared areas. The word "strata" refers to apartments on different levels. Strata title was first introduced in 1961 in the state of New South Wales, Australia, to better cope with the legal ownership of apartment ...
Housing cooperatives fall into two general tenure categories: non-ownership (referred to as non-equity or continuing) and ownership (referred to as equity or strata). In non-equity cooperatives, occupancy rights are sometimes granted subject to an occupancy agreement, which is similar to a lease.
Payments are disbursed to recipients through direct deposit to bank accounts. An average of just under 43,000 payments per month are processed by the FMEP. As an incentive for prompt payment, where a payor misses or is late making a payment twice in a calendar year, the program charges a default fee.