What Is a Strata? Complete Guide for BC Homebuyers | Vancouver Real Estate
- erin0582
- Sep 26
- 2 min read
Updated: Oct 2
Buying a home is one of the biggest financial and lifestyle decisions you’ll ever make. If you’re considering a condo, townhouse, or even certain detached homes in British Columbia, chances are you’ll come across the term “strata.” But what exactly does strata ownership mean—and how does it affect you as a homebuyer? Let’s break it down.
What Is Strata Ownership?
Strata title is a form of property ownership commonly found in British Columbia and other parts of Canada. When you buy into a strata, you’re purchasing two things:
Exclusive ownership of your individual unit (legally called your strata lot).
Shared ownership of the building’s common property, which you co-own with all the other residents.
Common property can include lobbies, hallways, elevators, gyms, swimming pools, the roof, parkades, landscaping, and outdoor areas.
Who Manages a Strata?
Every strata has a strata corporation, which is responsible for managing the property and its assets. Some buildings hire a professional strata management company, while others are self-managed.
A strata council—made up of elected owners—oversees day-to-day operations, similar to a board of directors. Councils are typically elected at the Annual General Meeting (AGM) each year.
Strata Fees Explained
Each owner contributes to the upkeep of the property through monthly strata fees. These fees cover:
Building maintenance (cleaning, repairs, landscaping)
Building insurance
Management costs
Contributions to the Contingency Reserve Fund (CRF)—a savings account for larger future expenses like roof replacements or elevator upgrades
Strata fees vary depending on the building’s age, size, and amenities. For example, a building with a pool, gym, and concierge will usually have higher fees than one with minimal amenities.
Strata Bylaws and Rules
Living in a strata also means agreeing to follow its bylaws and rules. These can cover:
Noise restrictions
Short-term rentals (like Airbnb)
Renovation approvals
Pet ownership
Holiday decorations (yes—even Christmas trees!)
Before you buy, it’s important to review the bylaws carefully so you understand what is (and isn’t) allowed.
Why Reviewing Strata Documents Matters
One of the most important steps when buying a strata property is reviewing the strata documents. These include:
AGM and council meeting minutes
Financial statements
Strata bylaws and rules
Insurance certificates
Depreciation reports
These documents reveal important details about the building’s financial health, upcoming repairs, and potential red flags.
The Bottom Line: Is Strata Right for You?
Strata living can be fantastic—it often provides community, amenities, and convenience. But it also comes with shared responsibilities, rules, and monthly costs that you need to factor into your decision.
If you’re considering buying into a strata in Vancouver, Burnaby, North Vancouver, or anywhere across the Lower Mainland, be sure to review all documents, ask questions, and work with a REALTOR® who understands the ins and outs of strata ownership.
Ready to Learn More?
If you have questions about buying a strata property—or need help reviewing documents before making an offer—feel free to call, text, or email me anytime. I’d love to guide you through the process and help you protect your investment.
👉 Don’t forget to share this guide with anyone you know who’s considering strata living in BC!
Contact me: erin@priceemery.com
Call or text: 604-767-7725
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