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Difference between revisions of "Duty to Repair and Maintain (22:XIV)"
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Duty to Repair and Maintain (22:XIV) (view source)
Revision as of 19:00, 22 August 2023
, 19:00, 22 August 2023→2. Depreciation Reports
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The requirements for a depreciation report are set out in section 94 of the ''SPA'', including: | The requirements for a depreciation report are set out in section 94 of the ''SPA'', including: | ||
:1 | :1. The report must be obtained from a “qualified person”, a term defined in s. 6.2(6) of the ''SPR'' as “any person who has the knowledge and expertise to understand the individual components, scope and complexity of the strata corporation’s common property, common assets and those parts of a strata lot or limited common property, or both, that the strata corporation is responsible to maintain or repair under the ''SPA'', the strata corporation’s bylaws or an agreement with an owner and to prepare a depreciation report that complies with [s. 6.2(1) to (4) of the ''SPR'']” (s. 94(2)). | ||
:2 | :2. A strata corporation must obtain a depreciation report in accordance with the following timelines (SPA, s. 94(2), SPR, s. 6.2(7)): | ||
:::a) when a strata corporation was established on or before December 14, 2011, the first depreciation report must have been obtained no later than December 14, 2013, and | :::a) when a strata corporation was established on or before December 14, 2011, the first depreciation report must have been obtained no later than December 14, 2013, and | ||
:::b) when a strata corporation has already obtained at least one depreciation report, the next depreciation report must be obtained no later than three years after the date of the last report. | :::b) when a strata corporation has already obtained at least one depreciation report, the next depreciation report must be obtained no later than three years after the date of the last report. | ||
:3 | :3. A depreciation report is required to include all of the following (SPR, s. 6.2(1)): | ||
:::a) a physical inventory and evaluation that complies with s. 6.2(2); | :::a) a physical inventory and evaluation that complies with s. 6.2(2); | ||
:::b) a summary of repairs and maintenance work for common expenses respecting the items listed in s. 6.2(2)(b) that usually occur less often than once a year or do not usually occur; | :::b) a summary of repairs and maintenance work for common expenses respecting the items listed in s. 6.2(2)(b) that usually occur less often than once a year or do not usually occur; | ||
