Mastering The Strata Warranty Process: Best Practices For Navigating With Confidence
Description
In this episode, Brent and James dive into the world of strata warranties with Naomi Rozenberg, partner with Lesperance Mendes and equip you with knowledge & best practices to navigate the process with confidence. Understanding and implementing these tips will help ensure a smooth and successful warranty experience.
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Over 1.5 million people live in strata housing in the Province of British Columbia.
Let's face it, you'd rather watch reruns of the nightly news than read the Strata Property Act (And we can't blame you) Still, most people are at a loss when it comes to understanding such an important framework for how many of us live our lives in proximity with one another.
🎙 Stratagize with Brent Anderson & James Milne features conversations with industry leaders and experts who share their knowledge to demystify an industry that impacts the lives of more than 1 out of 3 British Columbians.
Whether you are a council member, owner, investor, or renter, if you're looking for content that will bring value to your strata and help you get to the next level… THIS is it!
Listen to our latest episode, subscribe and rate us on iTunes. 👊
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🚨 STRATA TIP:
Set expectations with your strata manager around their level of involvement with the warranty process.
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MAIN TAKEAWAYS:
🛠 Five key reporting deadlines that are tied to the commencement date: 12 month, 15 month, 2 year, 5 year and 10 year.
🛠 Engineering reports can take six months to complete. Plan well in advance of your deadlines.
🛠 Read through warranty manual & create calendar reminders for key dates & deadlines. Read through maintenance manual, review recommendations and create spreadsheet of what needs to be done & when.
🛠 Watch out for warranty deadlines that expire at 12:01am
🦄 MYTH VS FACT
The strata corporation is responsible for deficiencies in the strata lot.
(Myth)
Strata corporations are responsible for deficiencies with common and limited common property.
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