Strata Tip of the Week – What does a strata corporation owe its owners?

by Condo Clear

Buying a strata home means joining a shared arrangement. You own your unit, but you also share a building with your neighbours. The strata corporation is the group that looks after the shared parts. This week, we look at what its job generally is, and where the paperwork shows how well it’s being done.

1. Who “the strata” really is

It’s easy to picture the strata as a landlord or a management company. It isn’t.

The strata corporation is made up of all the owners. The strata council is a group of owners, chosen by the other owners, who handle the day-to-day decisions. Many stratas also hire a strata manager to help with the paperwork and routine tasks. The council and the manager act on behalf of the owners as a group.

So when we talk about the strata’s responsibilities, we’re really talking about the jobs the owners have handed to the council to do for everyone.

2. Looking after the shared property

The biggest job is usually the building itself. In general, the strata looks after the common property and common assets. That often means things like:

Hallways, stairwells and lobbies
The roof and the outer walls of the building
Elevators and shared mechanical systems
Shared grounds, parking areas and amenity rooms

Repairs and upkeep of the common property are generally paid for with shared money that comes from the owners. That’s why the paperwork matters to a buyer. It can show whether repairs are being planned for, put off, or paid for through a special levy.

Owners usually look after the inside of their own unit. Exactly where one ends and the other begins depends on the bylaws and the strata plan, and it can surprise people. How that split applies to a particular unit or purchase is a question for a lawyer or notary.

3. Running things openly and fairly

Beyond the building, the strata has a set of everyday duties to the owners as a group. These generally include:

Holding general meetings and keeping minutes
Preparing a yearly budget and keeping financial records
Arranging insurance for the building
Setting money aside in the contingency reserve fund for future big repairs
Applying the bylaws and rules to everyone

Council members are generally expected to act honestly and in the best interests of the strata as a whole, not for their own benefit. Bylaws are meant to be applied evenly, not just to some owners.

In practice, decisions that affect everyone are meant to be made in the open and recorded in the minutes. That record is part of how owners, and buyers, can see what the strata has been deciding.

4. Where owners fit in, and what the paper trail shows

The relationship goes both ways. Owners pay their share of the costs through strata fees and follow the bylaws. When both sides do their part, the building tends to run smoothly.

For a buyer, the strata’s records are the clearest window into how the job is going. Minutes can show whether repairs are being dealt with or put off. Budgets and financial statements show how the strata is paying for things. The contingency reserve fund and depreciation report give a picture of how it’s planning for the future. Insurance documents show how the building is covered.

A buyer isn’t only buying a unit. They’re also stepping into the way the strata has been run, including work done and work still ahead.

None of these documents is a guarantee. Together, though, they tell the story of how a strata has looked after its building and its owners.

Depending on the review, we read the bylaws, council minutes, financial statements, contingency reserve fund information, depreciation report and insurance documents.

At Condo Clear, we review strata documents every day and share these insights to help buyers and owners feel more confident navigating strata living. Sign up for our Strata Tip of the Week Newsletter to stay up to date with the latest strata news and articles.

That’s it for this week. If you have any suggestions for other topics you’d like us to cover, please let us know at info@condoclear.ca.

Author: Ryan Stenquist; Last Edited: November 9, 2026

A little about Condo Clear:

They are a fully licensed brokerage under the BCFSA, and carry Errors and Omissions (E&O) insurance.

They have been in business since 2017 and have completed over 3,000 strata reviews to date province-wide.

Their Review Advisors have firsthand knowledge and experience. They’ve all been practicing strata managers.

FAQs: How do Condo Clear’s services work?

Pricing: How much do Condo Clear’s services cost?

Learn More: https://condoclear.ca/