What is a Depreciation report?
A Depreciation Report is more than a legal requirement — it’s your strata’s roadmap for the next 30 years. At AV Appraisals Inc., we prepare accurate, compliant, and easy-to-understand reports that help councils make informed decisions, plan long-term budgets, and prevent costly special levies.
Depreciation Reports That Go Beyond Compliance!
WHY CHOOSE US
Strata Depreciation Report in BC
For ALL strata types
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Residential
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Commercial
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Industrial
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Mix-Use
High Rise | Low Rise | Townhouse | Bare Land
Regions Covered - ALL British Columbia
We proudly provide Depreciation Report service in ALL regions of British Columbia.
Lower Mainland | Fraser Valley
Vancouver Island | Sea to Sky
Okanagan - Thompson
Kootenays | Cariboo
Northern B.C.
FAQ
Depreciation Report
What is a strata depreciation report in BC?
A Depreciation Report (also known as a Reserve Fund Study) evaluates a strata corporation’s common and limited common property components, their current condition, and the projected costs for maintenance, repair, and replacement over a 30-year period.
Is a depreciation report mandatory in British Columbia?
Yes. In British Columbia, all strata corporations with five or more strata lots, including bare land strata, are required to obtain a Depreciation Report in accordance with the Strata Property Act and Regulations.
How often does a strata need to update a Depreciation Report in BC?
Strata corporations must obtain a new depreciation report every five years and may no longer defer this requirement by annual vote.
Strata corporations may also require an Insurance Appraisal (Replacement Cost New) to ensure proper coverage.
What are the deadlines for existing strata without a current report?
Strata without a report, or with reports before December 31, 2020 must obtain one by specified deadlines. Deadlines vary by region within British Columbia.
Who is qualified to prepare a depreciation report in BC?
Effective July 1, 2025, strata corporations must obtain depreciation reports from one of six designated professionals.
Our reports are prepared by AACI (Accredited Appraiser Canadian Institute), fully qualified to prepare Depreciation Reports in compliance with the provincial requirements and CUSPAP standards.
What is included in Depreciation Report prepared for a Strata in BC?
A Depreciation Report identifies common property and limited common property, such as buildings, roofing, mechanical systems, roads, landscaping, and amenities, and forecasts future repair and replacement costs. It also includes Contingency Reserve Fund (CRF) projections to support long-term financial planning.
How much does a Depreciation Report Cost in BC?
The cost of a Depreciation Report depends on factors such as property size, number of units, age, and system complexity. We provide clear, upfront pricing once the scope of work is confirmed.
What are the steps in a depreciation report?
