With the recently announced Provincial Government new legislation regarding municipal zoning, all single family lots in every BC City with more than 5000 residents will now automatically be zoned for multi-family housing up to 6 units. Once the new legislation kicks in, municipalities will be forced to change their zoning bylaws. Of course each municipality will likely have their own setback requirements, but these new rules will likely eliminate a lot of the NIMBYarders blocking new developments in single family neighbourhoods.
What does this mean for Strata Corporations in BC?
Well, it will likely mean many more small strata developments will be approved in neighbourhoods that were previously able to block them. I can foresee a major building boom of 4-12 unit buildings in neighbourhoods that would have never allowed them before. The vast majority of these developments will be residential stratas, and many of them will require strata management company help.
What options do smaller strata corporations have?
Many of these smaller 4-8 unit strata buildings will likely decide to self manage, at least initially, in order to save money. Over time, many of these will likely decide to employ a property management company, and least for some of the administrative work. While smaller strata buildings don’t have large operating budgets, and they may not be able to afford full service strata management, there are options for limited and budget friendly services such as:
- Providing monthly financial statements
- Collecting strata fees and paying invoices
- Maintaining owner registries, including FORM K’s for tenants
- Administration of documents such as Form B’s and Form F’s
- Helping to budget for, run, and minute your AGM
- Negotiating insurance premiums
If you are a Council member for a small Strata corporation in Vancouver or the Lower Mainland, and are looking for smaller strata management solutions, reach out to us today to see what we can do for you! You can find us here!