What is the strata corporation and how does it work?
The Strata Corporation, an entity comprising all of the individual unit owners, is responsible for management of common areas of the property. The property management company will derive a budget for these expenses and administer service contracts, insurance coverage, repairs and ongoing maintenance. The annual budget amount is allocated to each owner through the monthly condominium fees. As an owner of a suite, you have the right to attend Strata Corporation Annual General Meetings, and vote in matters related to the Strata Corporation, including the election of members of the Strata Council.
Related Questions
- May a strata corporation change a common property roof with access for all to a private access roof for some strata lot owners?
- What is the difference between a Strata Corporation and a Condominium Corporation, and a Strata Council and a Condominium Board?
- If an owner wants to install a skylight, is a 3/4 vote of the strata corporation required?
