Amendments to the Strata Property Act will make it easier for strata councils to carry out their responsibilities by removing regulatory barriers for strata corporations and owners, explaining requirements and clarifying definitions within the Act.

The amendments will confirm that paying for and accruing funds to pay for a depreciation report is a legitimate operating fund expense and can be approved by a majority vote.

As well, the amendments will make it easier for strata corporations to pay for repairs recommended by their depreciation report by reducing the required approval for contingency reserve fund expenditures from three-quarters to majority vote.

The amendments will change the definition of purchasers to make it clearer that specified rights and obligations do not end when the title has changed hands.

• The Strata Property Act provides a framework that enables strata owners to maintain control over their property and have a voice in its management. There are approximately half a million residential strata lots and 29,000 strata corporations in B.C. Depreciation reports have been mandatory since December 2013.