What We Prepare
The Depreciation Report, under the Strata Property Act.
In British Columbia, the reserve study is the Depreciation Report, and strata corporations with five or more lots are required to obtain one under the Strata Property Act and keep it current on the cycle the legislation sets.
Every engagement starts with a full inventory of the strata’s major common components, an on-site condition inspection, and a long-range funding forecast across multiple funding models. The result is a report a volunteer Council can read and act on, and one that holds up when an Owner, a lender, an insurer, or a prospective buyer reviews your documents.
We prepare each report to recognized reserve-planning standards and to the requirements of the Strata Property Act, so the terminology and the obligations are applied the way your corporation actually lives under them.
See the full Depreciation Report →Across the Province
From the coast to the Interior.
British Columbia is a big province, and reserve planning should not stop at the edge of the Lower Mainland. We work with strata corporations across every region, with the on-site inspection scheduled in your area.
- Lower Mainland
- Vancouver, Burnaby, Richmond, Surrey, the Tri-Cities, and the Fraser Valley, our home base and largest concentration of strata corporations.
- Vancouver Island
- Victoria, Nanaimo, the Cowichan Valley, and up-island communities, from waterfront low-rises to larger strata complexes.
- The Interior
- Kelowna, Kamloops, the Okanagan, and the Kootenays, where seasonal weather and renewal timing both matter to a forecast.
Northern BC and other communities outside these centres are served the same way, remotely for most of the engagement, with the inspection scheduled on site. If your building is in British Columbia, it is in our home market.
Why a BC Firm
The Strata Property Act, known first-hand.
OurCastle is based in Vancouver. British Columbia is not one market among many for us, it is the one we work in most, and the one whose legislation we know best.
- Local first-hand expertise. Deep, day-to-day familiarity with the Strata Property Act and how Depreciation Reports are read and used in BC.
- Remote-capable by design. Most of the engagement runs in a shared workspace, so a strata in the Kootenays gets the same attention as one in Vancouver.
- Independent throughout. No ties to contractors or vendors, so the recommendations serve the Owners and no one else.
Common Questions
British Columbia, specifically.
Straight answers on obligation, terminology, and reach for strata corporations in BC, before you request a proposal.
Does our BC strata corporation need a Depreciation Report?
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. Smaller stratas and certain circumstances can be treated differently. We confirm exactly what applies to your corporation as part of the proposal.
Why is it called a Depreciation Report and not a Reserve Fund Study?
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.
Do you only work in the Lower Mainland?
No. British Columbia is our home market and we prepare Depreciation Reports for strata corporations across the province, from the Lower Mainland to Vancouver Island to the Interior. Most of the engagement runs in a shared workspace, with the on-site inspection scheduled in your area, so a building outside the major centres gets the same attention as one downtown.
For Reference
Read the BC requirements for yourself.
The standards and obligations behind a Depreciation Report in British Columbia are public. Here are the primary sources we prepare to.
By Area
Depreciation Reports across British Columbia.
Browse the page for your city or region, each written for the local strata market.