Last updated October 2026. Written by ClarityRS (Clarity Reserve Solutions Ltd.).
The deadlines below are the ones already set out on our depreciation reports page. They come from the Strata Property Act rules that took effect July 1, 2024.
Who needs a report
- Strata corporations in BC with 5 or more lots must obtain a depreciation report.
- Councils can no longer vote to waive the requirement, and deferring is not an option.
- A report received on or before December 31, 2020 does not meet the current requirement.
Deadlines
- July 1, 2026: Metro Vancouver, the Fraser Valley, and the Capital Regional District, excluding the Gulf Islands and other islands within the CRD.
- July 1, 2027: the rest of British Columbia, including the Okanagan, Vancouver Island outside the CRD, the Sea to Sky corridor, and the North.
After the first report
Legislation effective July 1, 2024 requires a new depreciation report at least every 5 years. A report includes a 30-year view and at least three funding models for the contingency reserve fund. The minimum annual contribution to that fund remains 10% of the operating budget; that minimum is not the same thing as a fully funded plan.
Who can prepare one
From July 1, 2025, the province identifies designated professions that may prepare depreciation reports. Accredited appraisers (AACI) and Certified Reserve Planners are among them. ClarityRS reports are prepared by people who hold those designations.
For what a report costs, see depreciation report cost. For a proposal, use the quote form or call 1-855-578-7282.