Industry News
Home Adaptations for Independence Program
The Home Adaptations for Independence (HAFI) program helps low-income seniors and people with disabilities finance home modifications for accessible, safe and independent living. For more information, visit BC Housing’s website or call 604.646.7055.
NEW FROM THE HPO
Building Smart with Windows
January 19, 2012
The British Columbia Building Envelope Council (BCBEC) and the Homeowner Protection Office (HPO), a branch of BC Housing, are presenting a half-day workshop on window installation. This four-hour workshop will focus on building enclosure and window installation requirements for thermal performance in new and retrofit buildings. Industry leaders will provide insights into key issues including window to wall interface, insulation strategies, thermal and condensation performance of windows, effectiveness in managing rainwater, building code, installation and energy efficiency standards.
The HPO has a new Builder Insight bulletin. Builder Insight #9 entitled Fenestration Energy Performance: A Roadmap for Understanding Requirements for Residential Buildings in British Columbia looks at the energy performance requirements for windows, glazed doors and skylights used in residential buildings. Below is an overview of the new bulletin which you can use.
New HPO Builder Insight Bulletin
Builder Insight #9: Fenestration Energy Performance: A Roadmap for Understanding Requirements for Residential Buildings in British Columbia is now available. The Homeowner Protection Office, a branch of BC Housing, has released a new technical bulletin that looks at the energy performance requirements for windows, glazed doors and skylights used in residential buildings, and provides a roadmap for compliance. Energy performance requirements for fenestration have become more stringent in recent years. This bulletin will help clarify the building code and BC Energy Efficiency Act requirements and the supporting standards
NEW STRATA PROPERTY ACT REGULATIONS
The new Strata Property Act regulations for depreciation reports and Form B (the information certificate) have been introduced. The consultation with the strata community including strata associations, legal experts, professionals and strata lot owners was very helpful in refining the final regulations.
The new regulation is available here at http://www.housing.gov.bc.ca/strata/regs/OIC-SPA.pdf. Additional information is available at the Strata Property http://www.housing.gov.bc.ca/strata/regs/index.htm; updated strata property guides are expected in February 2012.
DEPRECIATION REPORTS HIGHLIGHTS
- Like other provinces, depreciation reports are now mandatory unless a strata corporation exempts themselves by an annual ¾ vote. Strata corporations will have by December 13, 2013 to obtain a depreciation report or hold a ¾ vote to exempt. Strata corporations with less than five units are not required to prepare depreciation reports or hold a ¾ vote to exempt themselves.
- Given the wide range of strata properties, strata corporations will have the flexibility to select the person or team best-suited to analyze their particular property. The regulations require that the depreciation report provide the person’s name, qualifications, whether they have errors and omissions insurance and their relationship to the strata corporation.
- Depreciation reports will include an onsite visual inspection and are to be updated every three years. Corporations will have 18 months from the time a ¾ vote expires to get a depreciation report.
- Strata corporations are not required to fund contingency reserve funds (CRF) above the minimum previously required (25% of the operating budget). However strata owners may now make any additional contributions to the CRF by simple majority vote. (Previously an annual ¾ vote was required to make contributions to the CRF above 100% of the operating budget).
- The legislation and regulations are only one component of depreciation reports. Education and best practices will also provide information on: selecting a qualified person or team; formatting and presenting a report; securing materials electronically to facilitate regular updating and best practices in maintaining, repairing and funding common property and limited common property.
FORM B OVERVIEW
The Form B has been revised to improve disclosure:
- By January 1, 2014 strata corporations will be required to provide additional information to prospective purchasers on parking and storage allocated to the strata lot.
- As well, by March 1, 2012, strata corporations must attach: copies of the strata corporation’s rules; the current budget; the owner developer’s Rental Disclosure Statement, if any; and the most recent depreciation report, if any. With the exception of the depreciation report, none of these requirements are new.
- If they choose to do so, strata corporations may use the revised Information Certificate sooner than the required dates.
Regulations for audited financial statements are expected next year (2012). The consultation process identified some timing issues that need to be addressed.
Langara College - Advanced Strata Management Course
Sign up now for the winter 2012 term - details