Real Estate Information and Market Trends| Real Estate Victoria BC

Victoria Real Estate – Strata Property Act

When buying real estate in Victoria there are a lot of things you should consider, and especially if you buy a condominium or any other strata property.

The rights of real property owners will improve when proposed changes to the Strata Property Act take effect, according to the British Columbia Real Estate Association (BCREA). The legislation was introduced in the BC Legislature on March 23.

“More affordable and efficient ways to resolve disputes will help owners of strata units protect their homes and manage their investments,” said BCREA President Scott Veitch.

In addition to measures related to the dispute resolution processes available to strata corporations and strata owners under the Strata Property Act, the changes proposed in Bill 12 clarify some administrative processes and require strata corporations to get and retain reports regarding repair or maintenance of major items.

“Access to more—and better—information, such as depreciation reports and audited financial statements, will help owners and potential buyers make informed decisions,” added Veitch. “As a REALTOR®, I’m sure this will give my clients even more confidence in their purchases.”

If you are planning to purchase real estate in the future, just let us know. Our team of professionals has the knowledge and know how to meet your needs. Contact Bill or David at Properties In Victoria Professional™ team. You can consult their Victoria Real Estate website www.PropertiesInVictoria.com or just email Bill and Dave

Cheers, Bill

Properties in Victoria Professionals™- Royal LePage Coast Capital Realty

Bill has been a REALTOR® in Victoria since 2006. Originally from the Vancouver area, Bill moved to Victoria to attend the University of Victoria where he received his Bachelor of Science. Not only does Bill have a wealth of real estate knowledge he is also an active member of the community. He is a member of Triple Shot Cycling Club, Island Road Racers and is the Race Director for the Sooke River 10K.