What is the BC strata depreciation report 5-year cycle?

Direct answer

The Strata Property Act (Section 94 + the Strata Property Regulation) requires strata corporations of five or more strata lots to commission a Depreciation Report ("DR") prepared by a qualified person every five years. The DR is a 30-year capital-renewal projection covering structural elements, mechanical systems, building envelope, parkade, elevators, and common amenities, with a recommended contingency-reserve-fund (CRF) contribution schedule. Bill 14 (2024) amendments effective July 1, 2024 tightened the regime: the previous 75%-vote opt-out was eliminated for stratas of five+ units, and a standardized methodology is now required. The five-year clock runs from the date the most recent DR was finalized, NOT from a calendar anniversary. A new DR is also required when: (1) the strata commissions material capital work that materially changes the projection (e.g., a $2M envelope re-clad); (2) the strata is a new conversion or new development that has not yet commissioned an initial DR. Phased compliance deadlines apply by region — Metro Vancouver, the Fraser Valley, and the Capital Regional District faced earlier deadlines; smaller and rural BC stratas have until later in 2026 or 2027 (verify the specific deadline against the live BC government strata page). For buyers reviewing Form B during subject-removal: confirm the date of the most recent DR + the date the next DR is due. A strata that has missed its statutory deadline is a yellow flag.