Why Oak Bay stratas need this report now
Under Strata Property Act s. 94 and Strata Property Regulation 6.2, every strata corporation in Oak Bay with five or more lots must have a current Depreciation Report. Stratas in the Capital Regional District face a deadline of July 1, 2026 if they have never commissioned one or if the most recent report was issued before December 31, 2020. The report runs on a five-year renewal cycle thereafter.
The Depreciation Report's job is to project the cost of repairing and replacing common property and assets over a 30-year horizon — the foundation of contingency reserve fund planning. A report that under-estimates costs leaves councils exposed to surprise special levies. A report that over-estimates wastes owners' contributions. Either way, Oak Bay stratas need a report grounded in real component condition and accurate replacement cost data — not a desktop spreadsheet.
What CF Electrical delivers in Oak Bay
Our Depreciation Reports cover the full content set required by Strata Property Regulation 6.2: an inventory of common property components, condition assessment, useful-life projections, replacement cost estimates over a 30-year horizon, and three statutory funding scenarios — fully funded, baseline, and threshold. Oak Bay councils receive a working document, not just a deliverable: clear funding recommendations, owner-friendly summary tables, and a presentation walk-through before adoption.
Every CF Electrical report is signed and sealed by our P.Eng (Professional Engineer) registered with Engineers and Geoscientists British Columbia. Under BC OIC 497-2025, a P.Eng is a Qualified Person to prepare these reports for both Part 3 (complex) and Part 9 (simple) buildings — concrete highrises, mid-rises, low-rise wood-frame, and townhouse complexes alike. Oak Bay stratas don't need to worry about whether their building type is in scope. It is.
About strata buildings in Oak Bay
Heritage low-rise concrete condos along Oak Bay Avenue, 1970s wood-frame walk-ups through the village, plus low-density townhouse complexes scattered through the residential streets.
What that means for Depreciation Reports in Oak Bay: 1980s wood-frame stratas tend to face replacement-cost surprises around roofing, exterior cladding, balcony membranes, and electrical service upgrades. The Depreciation Report is the financial backstop. Townhouse complexes often have lower per-unit common-property costs but higher common-asset count — fences, retaining walls, asphalt, and shared mechanicals — that need their own line items in the funding plan.