Professional, Compliant, and Ready for 2025 Requirements
A Depreciation Report isn’t just a formality — it’s your strata’s long-term financial roadmap.
Guardian Insurance Appraisals provides fully compliant, professional depreciation reports prepared by AACI-designated appraisers and Certified Reserve Planners (CRP). Our reports help strata councils understand asset conditions, forecast repair costs, and plan for future funding with confidence.
Our Depreciation Report will address:
- What assets a strata corporation owns (an inventory).
- The assets conditions (evaluation).
- When assets are anticipated to need attention (the anticipated maintenance and repair).
- How much money the strata corporation currently has (CRF contingency reserve fund).
- What it is likely to cost for future repair and maintenance (a description of the factors and assumptions in projecting costs).
- How the strata corporation can pay for the anticipated costs (three cash-flow funding models projecting 30 year replacement periods).
– A Clear Financial Roadmap for Your Strata’s Future –
FAQ’s:
Q1. What is a Depreciation Report for a strata?
A Depreciation Report identifies all common property and assets a strata corporation must maintain, evaluates their condition, and forecasts future repair and replacement costs.
Q2. Who can prepare a Depreciation Report in BC?
As of July 1, 2025, only six designated professions can produce Depreciation Reports in BC — including accredited appraisers (AACI) and Certified Reserve Planners (CRP).
Q3. How often does a Depreciation Report need to be updated?
Under BC’s Strata Property Act, reports must be updated five three years to remain current and compliant.
Q4. How long does a Depreciation Report take to complete?
It can take up to 6 months or longer, depending on the size, complexity, and age of the property. The process includes document collection, a site visit, and drafting the report. The strata then reviews the draft and can submit an questions or comments to discuss with our appraiser before the final report is finally released.
For more info regarding the new changes and requirements under B.C.’s Strata Property Act and Regulations you can view the BC Government News Article by clicking here.