COVID – 19
Office of Housing and Construction Standards Housing Policy Branch has recently shared amended regulations to better support strata managers in their work.
To be responsive to the needs of strata corporations and strata owners, the Province has issued an Order-in-Council (OIC) amending the Strata Property Regulation. The Regulation changes accomplish two things:
- Clarify that strata corporations can pay for rising insurance costs from their contingency reserve fund without approval from owners if payment is required before there is time to convene a general meeting.
- Help strata corporations cope with the COVID-19 pandemic by allowing them to postpone a general meeting or take additional time to develop and implement a new meeting format (e.g., an electronic or restricted proxy meeting).
The OIC gives the strata an additional two months to hold an annual general meeting or special general meeting if the strata is located in an area where a local or provincial state of emergency is in effect at any time during the month before the statutory deadline for holding the meeting. For example, if a strata corporation must hold a special general meeting by June 30 to comply with a requirement under the Act and a state of emergency ends on June 15, the date when the strata must hold a meeting is extended to August 30.
The regulation change giving the stratas an additional two months to hold an annual general meeting or special general meeting will apply to future states of emergency as well and could provide needed flexibility to stratas affected by other emergencies such as floods and forest fires.
The amendment clarifying strata corporations can pay for rising insurance costs from their contingency reserve fund was necessary because some strata corporations have reportedly been getting legal advice that paying an insurance premium may not meet the criteria under section 98(3) of the Strata Property Act for an urgent expenditure from the contingency reserve fund.
- Power Point Presentation for SPABC members Only on General Meetings: Coming Soon!
Formed in 2000, SPABC is the voice of more than 120-plus B.C. property management companies, specifically residential strata management companies acting as agents for approximately 350,000 strata units. SPABC’s purpose is to bring B.C. property management companies together to:
- Represent a united, effective voice to various levels of government;
- Develop and uphold common standards of performance;
- Share knowledge and updates and create efficiencies for our members;
- Further the establishment of post-secondary educational programs for future generations of strata property professionals;
- Provide education and research to industry members.
SPABC members strive to reach above and beyond the basic licensing requirements required by the Province of British Columbia in both company practices and a commitment to furthering the establishment of post-secondary educational programs for future generations of strata property professionals.
It’s a forward-thinking organization for a visionary, fast-growing and exciting industry.