VICTORIA
– New
regulations under the Strata Property Act that improve accountability in strata
corporations have been introduced that will support the more than one million
strata property owners and residents in the province.
The
new rules were developed after extensive consultations with the strata
community including strata lot owners, strata associations, legal experts and
professionals. The consultation also included an online public survey in
February 2011 that attracted over 1,800 participants, many of whom provided
additional comments that helped refine the final regulations.
The
majority of new housing starts in recent years have been stratas. Strata
properties already make up more than half of the taxable properties in a dozen
British Columbia municipalities. The prevalence of stratas will continue to
grow as the province’s population expands and urban densification increases.
The
Strata Property Act and regulations are used directly on a regular basis by
members of the public. Regulations with respect to audited financial statements
are expected to be introduced next year.
A
guide to the new regulations will be published early in 2012 to give strata
owners and corporations an opportunity to learn more about the new rules before
they are required to comply.
Further
information is available at: http://www.housing.gov.bc.ca/strata/regs
Definitely your post provides a great and useful resource every reader must adhere. This is truly a must read and admire. Thanks a lot for sharing!
ReplyDelete