A Depreciation Report, also known as a Reserve Fund Study is now legislated for all Strata Corporations in British Columbia. The purpose of this Report is to provide a long term plan for funding future repair/replacement and maintenance of common property and common assets. Benefits of this process include lower and more predictable costs to unit owner as well as enhanced unit value. Reserve items consist of building or site components, such as roof systems, exterior walls, pavement and landscaping, each of which has a limited life span, and therefore, must be repaired, replaced or periodically upgraded to maintain the property in suitable condition.
