Strata Parking May Get Simpler
In its newest report (the “Report”), the British Columbia Law Institute’s formidable committee of strata experts (the “Committee”) recommends more changes to the Strata Property Act (the “Act”). If adopted, these changes will make it easier for a REALTOR® to confirm how strata parking is designated.
Depending on the circumstances, a strata parking stall may be:
- a separate strata lot (except where intended to be used in conjunction with a residential strata lot);
- part of a strata lot; or
- common property.
The Committee focused on projects where parking is part of the common property. Where a parking stall is common property, it may also be:
- used under a developer’s long-term lease or license