What It Is
Vancouver has one of the densest concentrations of strata corporations in Canada. Under the Strata Property Act, most of them are required to obtain a Depreciation Report and keep it current on the cycle the legislation sets.
A Depreciation Report maps every major common asset: its observable condition, remaining service life, and projected renewal cost. Whether your building is a heritage walk-up in Kitsilano, a mid-rise in Yaletown, or a high-rise in Coal Harbour, the obligation and the process are the same.
We prepare yours to recognized reserve-planning standards and to the requirements of the Strata Property Act, so the report holds up when an Owner, a lender, an insurer, or a prospective buyer reviews your documents.
Full Depreciation Report details →Vancouver and the Lower Mainland
OurCastle is based in Vancouver. Whether your strata is in the city or the broader Metro Vancouver region, the same analyst prepares and signs the report.
How It Works
One credentialed analyst from proposal to final report, and back again on your update cadence.
A tailored proposal, then a simple intake and a shared document workspace to gather your records.
An on-site assessment of every major component, documented with photographs.
The long-range model, a draft report, and a presentation meeting to walk your Council through it.
Your feedback shapes the final. We return on the cadence your governing legislation sets.
When You Need One
Related Services
Beyond Compliance
Built on the Depreciation Report foundation: reserve and operating budgets modeled together, property improvements weighed beside required renewals, and timing shaped around what your community actually wants.
Explore the Asset Management PlanOwner's Advocate
When a renewal in the forecast becomes a live project, an Owner's-side coordinator keeps it moving against the plan without becoming a second job for the Council.
Explore Project LiaisonCommon Questions
Straight answers on obligation, timing, and what a Depreciation Report can and cannot do, before you request a proposal.
In British Columbia, strata corporations with five or more lots must obtain a Depreciation Report under the Strata Property Act and renew it on the cycle the legislation sets. This applies to strata corporations throughout Vancouver and Metro Vancouver. Smaller stratas and certain circumstances can be treated differently. We confirm exactly what applies to your corporation as part of the proposal.
Depreciation Report is the name the Strata Property Act uses in British Columbia. Across the Prairies and in the United States, the same deliverable is called a Reserve Fund Study. The terminology follows the jurisdiction; the underlying work, a component inventory, a condition inspection, and a long-range funding forecast, is the same.
Likely yes. Beyond the renewal cycle the legislation requires, costs shift, components age in ways the last report could not foresee, and your community's priorities change. Keeping the report current is what makes it a reliable basis for setting contributions and planning renewals.
No, but digital drawings meaningfully improve the accuracy of quantity and layout assumptions. If your records are missing or outdated, that is common in Vancouver buildings of all ages, and we work from what is available while noting where drawings would sharpen the estimate.
Often, yes. Many funders accept a Depreciation Report as part of a capital funding request. If you need more tailored funding models or risk framing for a specific application, an Asset Management Plan is the better fit.
For Reference
The standards and obligations behind a Depreciation Report in British Columbia are public. Here are the primary sources we prepare to.