As a Vancouver Strata Management Company, we find ourselves being asked this question all the time;
What is the difference between limited and common strata property?
Basically, anything on the strata plan that isn’t part of an individual strata lot is common property. Common property is usually designated with a C on your strata plan schematic.
The Strata Corporation owns and controls common property, and is responsible for maintaining it.
What is limited common property?
Very often, common property is designated as limited common property, which is for the exclusive use of the individual strata lot. Examples of this would be balconies and patios, and sometime parking stalls and storage lockers. This is defined as LCP on the strata plan. The owner of the strata lot to which the limited common property is designated would generally be responsible for the maintenance of that space.
Parking and storage lockers in a strata are usually common or limited common property, although in some rare cases they are actually titled.
Changing limited common and common property
In order to make changes to limited common property, depending on your strata bylaws, an alteration agreement is generally required.
Changing common property in a strata building can be a bit more complex. An alteration agreement may suffice, but if it results in a significant change in use or appearance of the common property, it will require a ¾ vote at an AGM or SGM.
Still not totally clear when it comes to common property vs. limited common property? Contact our strata management company here to let us explain a bit more.