Regarding the 30-year depreciation report requirement under the Strata Property Act, which of the following strata corporations is exempt from preparing one?

Question: Regarding the 30-year depreciation report requirement under the Strata Property Act, which of the following strata corporations is exempt from preparing one?

Answer options:

• A strata corporation with only two residential units and one commercial unit.
• A strata corporation located outside a municipality, with 15 units. ✅ A strata corporation that has obtained a 3/4 vote to waive or defer the report for up to 18 months.
• A new strata corporation that is less than 3 years old.

Correct answer: A strata corporation that has obtained a 3/4 vote to waive or defer the report for up to 18 months.

Explanation: Section 94(2) of the Strata Property Act allows a strata corporation to waive the requirement to obtain a depreciation report for up to 18 months by a 3/4 vote at a general meeting. This is the only direct exemption permitted by legislation.