Why now
Why Victoria stratas need this report now
Under the Strata Property Act, every strata corporation in Victoria with five or more lots must have a current Depreciation Report. Stratas in the Capital Regional District faced a deadline of July 1, 2026 if they had never commissioned one or if the most recent report was issued before December 31, 2020 — and that deadline has now passed. The duty does not lapse when the date does: a strata without a current report should commission one promptly, because the report's absence is disclosed to buyers and lenders until it is on file. The report runs on a five-year renewal cycle thereafter.
The Depreciation Report's job is to project the cost of repairing and replacing common property and assets over a 30-year horizon — the foundation of contingency reserve fund planning. A report that under-estimates costs leaves councils exposed to surprise special levies. A report that over-estimates wastes owners' contributions. Either way, Victoria stratas need a report grounded in real component condition and accurate replacement cost data — not a desktop spreadsheet.
What you receive
What CF Electrical Services delivers in Victoria
Our Depreciation Reports cover the full content set required by BC strata law: an inventory of common property components, condition assessment, useful-life projections, replacement cost estimates over a 30-year horizon, and three statutory funding scenarios — fully funded, baseline, and threshold. Victoria councils receive a working document, not just a deliverable: clear funding recommendations, owner-friendly summary tables, and a presentation walk-through before adoption.
Every BC strata building type is covered under BC strata law — concrete highrises and mid-rises through wood-frame walk-ups and townhouse complexes. The Depreciation Report is signed and sealed by the credential the regulation calls for: a Professional Engineer (P.Eng), Professional Licensee Engineering (P.L.Eng.), Applied Science Technologist (AScT), or Certified Technician, whether the building is Part 3 (complex) or Part 9 (simple). Victoria stratas don't need to worry about whether their building type is in scope. It is.
Local building stock
About strata buildings in Victoria
James Bay and Fairfield hold one of BC's denser concentrations of 1960s–1970s concrete apartment buildings — many converted to strata title and still on original service — alongside 1980s–1990s wood-frame walk-ups in Fernwood and Vic West, heritage conversions through Old Town, and the 1990s-onward Songhees waterfront and downtown podium towers now reaching their first major capacity-planning cycle.
What that means for Depreciation Reports in Victoria: 1980s wood-frame stratas tend to face replacement-cost surprises around roofing, exterior cladding, balcony membranes, and electrical service upgrades. The Depreciation Report is the financial backstop.
