What is the BC strata depreciation report rule?

Direct answer

BC strata corporations of five or more units must commission a depreciation report ("DR") prepared by a qualified person every 5 years under Section 94 of the Strata Property Act, with phased compliance deadlines accelerated by Bill 14 amendments effective July 1, 2024. The DR projects 30 years of major capital-renewal costs (roof, plumbing, elevators, parkade, building envelope) and recommends contingency-reserve-fund (CRF) contribution levels. The 2024 amendments tightened the rules: the previous "75%-vote opt-out" was eliminated for stratas of five or more units, and the report must now use a standardized methodology. Phased deadlines apply by region — Metro Vancouver, the Fraser Valley, and the Capital Regional District faced the earliest deadlines; smaller and rural BC stratas have until later in 2026 or 2027 (verify the specific deadline against the live BC government strata page before relying on it). For buyers, this is materially good news: post-2024 stratas must produce credible 30-year capital-renewal projections, which makes special-levy surprises much harder to hide. Practitioner note: a strata that has not produced a DR by its statutory deadline is a yellow flag for buyers — request the report status in writing during subject-removal.