As a strata property owner you are required to make monthly payments to your strata corporation in addition to the monthly mortgage payments you make. These fees include each owner’s share of the common expenses of the Strata Corporation as well as property management fees.
In order to begin the process for determining your fee an annual budget for the maintenance of common expenditures is approved by the strata council before the end of a fiscal year and presented to the owners at the Annual General Meeting for your approval. The budget will include all of the anticipated expenditures for the next fiscal year, an example of items included are:
When the budget is finalized we will provide you with a listing of the maintenance fee for each strata lot based on unit entitlement. It is essential that owners understand less amenities do not equal less fees, the main factors that influence fees the most:
The most subjective factor affecting your maintenance fees is the company managing your building. It is the responsibility of your management company:
At Campbell Strata Management we understand the value of a dollar. This is why we do our best to maximize the use of your maintenance fees, while maintaining quality of service and professional workmanship. We optimize your maintenance fee by utilizing our bulk purchasing power to negotiate larger contracts amongst all of our managed properties so that you may invest the savings back into your property.
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Langley: 580- 8621 201 Street, Langley, BC V2Y 0G9Phone: 604.864.0380 Fax: 604.864.0480