Understanding the logistics of a Strata Council and how the rules will influence your lifestyle ahead of time are vital factors to consider when moving to a strata residence. Many people take for granted their ability to hang hummingbird feeders on their patios or having window coverings of any style and colour. Other people enjoy having the freedom to choose whichever cat or dog they prefer. Strata legislation is commonly found in condos, vacation properties, townhouses, strata subdivisions and duplexes. Residents must abide by the Strata Property Act or face extreme consequences including expensive fines and possible eviction. Kelowna Life Real Estate Group has an experienced team of realtors who can help you read the fine print and decide if a strata lifestyle is best for you.
Living in a strata community provides residents with the rules, bylaws and regulations for that particular property, as outlined in the “Strata Property Act.” Security and uniformity are in place to provide structure and peace of mind in strata-titled properties. Residents contribute monthly and pay strata fees which are completely separate from your mortgage or rent. The strata fees are placed into a contingency fund to pay for common expenses such as:
- Snow Removal
- Gardening and Landscaping
- General Repairs and Maintenance
Additional levies may be required from time to time in the event that your building needs a new elevator, roof or major repair. Many people love the idea of never having to shovel their walk or mow their lawn again. However, it is necessary to budget the extra strata fees accordingly to ensure that all of your funds are not simply going to mortgage and monthly payments. In the event every resident has to kick in for that new roof, you don’t want to be strapped.
Common Strata Bylaws
If you love to be organized and continually know what to expect and enjoy following rules; strata life may be ideal for you. Common strata bylaws include: specific quiet hours, limiting the number of guests, determining the age of residents, parking spaces, allowing guests to stay overnight, limiting the size and weight of your pets and what types of pets are allowed. Stricter strata’s will go as far to determine what is allowed on your patio and deck area in order to maintain a clean and tidy exterior. Making minor renovations or customizing your suite often requires pre-approval. As every building has its’ own unique ideas and residents; Kelowna Life strongly recommends being familiar with strata rules prior to purchasing.
The best way to stay abreast of changes in your building is to attend strata meetings and join your local strata council. Understanding the wants, needs and possible limitations of your building and brainstorming for solutions is a great way to get to know your neighbours. Items including safety, security and determining an annual budget are discussed. Meeting minutes are recorded and often posted in a common area for the rest of the residents to review. While some strata corporations may be professionally managed, there should be ample contact information if you have any questions, concerns or suggestions. There are cases of residents feeling bullied by their strata rules and this is unfortunate. Educate yourself by reading previous minutes of recent meetings and ask residents within the building how they feel living there prior to becoming a resident.
Kelowna Life Can Recommend the Perfect Property
Helping happy clients find their dream home is our specialty. Kelowna Life Real Estate Corporation has the experience to listen and deliver. Our team takes pride in our ability to provide you with excellent possibilities within your price range. Strata or no strata, we have a multitude of possibilities we can’t wait to show you. Book your listing or viewing with our established and successful team today!