Things to know before you order the Depreciation Report
Before any Strata Council orders a Depreciation Report, they should know what to look for. Jeremy Bramwell, AACI, RI, will address these issues in this informative 20 minute presentation. First, why do we need Depreciation Reports? Owners know that they are required under the law, but do not understand the real statistics behind the legislation. Second, when is an engineer required or recommended? Or when is a non-engineer your best choice, and why? Next, as a Depreciation Report subject matter expert on the BC Housing Policy Branch consultation committee for the changes to the Strata Property Act, Mr. Bramwell will discuss the changes in place as of the date of this talk. Benchmarking reports are the key to understanding the real financial position of a Strata Corporation. This talk will end with a discussion of how to calculate Reserve Adequacy (Percent Funded) and its implications.
Strata Reserve Planning is one of BC's largest and oldest Depreciation Report Firms. Since 2010, our experienced staff have completed accurate inspections in order to produce informative reports, completed to internationally accepted reserve planning standards. Our expertise gained from working with hundreds of clients, allows us to provide Strata Corporations with realistic financial scenarios. Strata Reserve Planning specializes in bare land developments, wood framed townhome and apartment complexes, as well as industrial strata buildings. As the market leader in a standard based approach, Strata Reserve Planning has been approached for their input by the UBC Sauder School of Real Estate, CHOA, REIBC, BC Government, and many others. There is no other firm with such an in-depth understanding of Depreciation Reports in British Columbia.
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