By Mike Andruff - VancouverPropertyFinder.com
As all realtors commit to their practice of real estate, they must also commit to the enhancement of the profession of real estate. This is where we engage with our local boards in our service to fellow members.
The Westside Division of the Vancouver Lower Mainland in BC recently hosted a seminar related to changes to our local strata property legislation. While the legislation is "prescibed", which means passed but not enacted until the Regulations are approved, the pending changes are significant for the strata property ownership and most importantly future values of such properties.
The prime change is a call for depreciation reports. This is the document which would detail all necessary upgrades and their schedule for future owners. This calls for developers of new properties to stand soundly behind the quality of their work, and for owners of older properties to have to dig deeper into their pockets to revitalize their homes. Clearly this legislation calls for higher standards for strata title ownership.
Here is a brief video of the seminar:
See similar videos by Mike Andruff: http://www.youtube.com/mandruff
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