04 Mar What Is A Strata Property?
There are half a million residential strata lots in British Columbia, commonly known as condominiums and townhomes, in addition to commercial and mixed use stratas.
A strata subdivides a property into individual units (strata lots) and common property. Each strata owner has title to their individual unit plus a proportional share of the common property.
There are approximately 29,000 strata corporations in BC operating and making decisions under the provincial Strata Property Act, a legislative framework based on democratic principles. The Act does not permit government to intervene in the affairs of a strata corporation or provide for the interpretation of the Act and Regulations.