If you are contemplating the purchase of a home that involves the strata or cooperative type of ownership, there are some additional points to consider: 

• What are the charges for common area maintenance?  What services or utilities are included? 
• Does the project have a good reputation for honesty and successful operations?  Are units, not controlled by the developer, being successfully resold? 
• Who controls the recreational facilities?  Will you be required to pay extra fees for using any of the facilities? 
• If it is a new development, is there a certain date when your unit will be ready for occupancy?  Will the swimming pool and recreation facilities be completed by that date? 
• Who manages the property?  Is it managed professionally or is it an owners responsibility? 
• What contingency fund reserve is maintained for roof replacement, decorating, repairs and maintenance? 
• Are owners permitted to rent their units to tenants?  How many rental units will be allowed in the project? 
• Have any special assessments been agreed upon, or have any structural problems been noted, which may lead to a special assessment in the future? 

Ask us to see the current Bylaws, Building Envelop, Rules & Regulations, and the Annual Budget.  Do you know what a Form B is?  Contact us for details. 

the Properties In Victoria Professionals^TM

All of these documents will explain the manner in which your unit and the common areas may be used and how the building is governed.

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