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Maintenance Fees

As a strata property owner you are required to make monthly payments to your strata corporation in addition to the monthly mortgage payments you make. These fees include each owner’s share of the common expenses of the Strata Corporation as well as property management fees.

In order to begin the process for determining your fee an annual budget for the maintenance of common expenditures is approved by the strata council before the end of a fiscal year and presented to the owners at the Annual General Meeting for your approval. The budget will include all of the anticipated expenditures for the next fiscal year, an example of items included are:

  • Landscaping
  • Insurance
  • Snow Removal
  • Reserve Fund Contributions
  • Common Utilities
  • Security
  • Waste Removal
  • Cleaning
  • Building Repairs
  • Caretaker Salaries
  • Pest Control
  • Management Fees
  • Parking Facilities
  • Amenities
  • Repairs & Maintenance

When the budget is finalized we will provide you with a listing of the maintenance fee for each strata lot based on unit entitlement. It is essential that owners understand less amenities do not equal less fees, the main factors that influence fees the most:

  1. Size of the building – the more suites in the building decreases the individual amount each unit owes for the common expenditures.
  2. Age of the building – as a building matures the fees will increase as the cost to maintain the building will increase.

The most subjective factor affecting your maintenance fees is the company managing your building. It is the responsibility of your management company:

  • To ensure your strata fees are at a level that will ensure your property has adequate funds for regular maintenance, anticipated repairs, and incidentals.
  • Advise your strata council on how to use the money collected wisely.
  • To identify safe investment opportunities that can generate a decent return on your Contingency Reserve Funds to grow the pool of money for operations.

At Campbell Strata Management we understand the value of a dollar. This is why we do our best to maximize the use of your maintenance fees, while maintaining quality of service and professional workmanship. We optimize your maintenance fee by utilizing our bulk purchasing power to negotiate larger contracts amongst all of our managed properties so that you may invest the savings back into your property.

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Langley: 580- 8621 201 Street, Langley, BC V2Y 0G9
Phone: 604.864.0380     Fax: 604.864.0480