Strata Depreciation Reporting

We provide a comprehensive service, both financial and building science based. We provide the building inspection and assessment in an easy-to-read comprehensive reporting system.

Inspect IT has been the preferred depreciation study provider for strata corporations in the Okanagan since 1998.

We have found there to be two considerations for depreciation reporting; one, the first depreciation study for the strata that includes a comprehensive building assessment, up to date property and building condition report, and component quantification typically acceptable to lending institutions (type A); and 2), a study update to assist the strata in meeting the intent of recent legislation (type B) requiring adequate contingency fund allotment.

For the first time (type A) depreciation reporting program, we would develop a reporting system consistent with the particulars of the strata; validate the condition of maintenance and equipment function independently; provide a comprehensive building assessment; quantify any scope requiring replacement within the 30 year period;  and the 30 year depreciation report. This would include a series of scenarios to maintain an adequate contingency fund.

Should the strata have a recent previous comprehensive report that requires updating; we will provide an updated assessment and condition report to validate strata fees for the next 30 year period to ensure basic compliance with recent legislation. We would rely on the previous study values and component quantification, equipment lists, equipment ages, equipment function and condition, and maintenance information provided by the strata to develop a 30 year cost projection of major strata based component replacement criteria and provide a recommendation on strata fee scenarios to maintain an adequate contingency fund.

Short list of recent Depreciation study Clients

  • 1128 Sunset Waterfront Tower
  • Playa del Sol complex
  • Martin Lofts Tower
  • Delta Vacation tower Kelowna
  • Crystal water development Lake Country
  • 1873/1875 Country Club Dr condominium complexes
  • 1035/1075 Bernard Ave. condominium complexes
  • 250 Briarwood strata housing complex
  • 645 Barrera Falcon Pt condominium complex
  • 777 Leon condominium complex
  • 2210 Louie Dr townhome complex
  • 686 and 670 Lequime condominium and townhome complexes 015+
  • Amberhill townhouse complex South Perimeter Way
  • Southwinds on Sarsons towers
  • Numerous others since 2008