Strata management in Penticton
Nearly three in four Penticton stratas have four lots or fewer, so for most councils in the city ManageStrata costs nothing.
Free for stratas of 4 lots or fewer, with no time limit.
In short
A strata in Penticton doesn’t need a management company. The Strata Property Act lets the owners’ elected council run it. Of the city’s 562 stratas, 404 have four lots or fewer and 158 have five or more. The five-or-more group needs a depreciation report; every strata, whatever its size, holds an AGM, passes a budget and keeps its records.
Penticton stratas by size
| Size | Stratas | Share |
|---|---|---|
| 1 to 4 lots | 404 | 72% |
| 5 to 10 lots | 68 | 12% |
| 11 to 30 lots | 64 | 11% |
| 31 to 100 lots | 25 | 4% |
| More than 100 lots | 1 | 0% |
| All Penticton stratas | 562 |
Running a duplex or small strata in Penticton
The typical Penticton strata has 2 lots. 404 of the city's 562 have four or fewer, mostly duplexes and small bare-land stratas.
A two-owner strata is still a strata corporation. It holds an AGM, passes a budget, keeps a contingency reserve fund and keeps minutes. With two neighbours who get along, that is easy to let slide, until one of them sells and the buyer's agent asks for a Form B. ManageStrata keeps the minutes, the budget and the records in order through the year, and produces the Form B when it's asked for.
The 158 stratas with five or more lots also need a depreciation report. Most of them are small: 132 have 30 lots or fewer.
What the Act asks of a Penticton strata
- Every strata holds an annual general meeting, has its owners approve a budget, keeps a contingency reserve fund and keeps minutes of its meetings.
- Four lots or fewer: no depreciation report is required. The rest of the Act still applies.
- Five lots or more: A strata of five or more lots must obtain a depreciation report and renew it every five years. In Penticton, as everywhere outside Metro Vancouver, the Fraser Valley and the Capital Regional District, the first one is due by July 1, 2027.
The same rules apply in Summerland, Naramata, Oliver, Osoyoos and the rest of the Regional District of Okanagan-Similkameen.
What it costs
Management companies in BC typically charge $25 to $60 a lot each month. For a 12-lot strata, the typical size in Penticton once you pass four lots, that is $300 to $720 a month.
ManageStrata is free for a strata of 4 lots or fewer. A 12-lot strata pays $47.52 a month. It tells your council what’s due before the date, keeps the operating fund and contingency reserve apart, and runs the AGM from notice to minutes. If you keep a manager, ManageStrata works alongside them. See pricing for every size.
Find your strata
Every Penticton strata in the registry is listed in the directory, with its lot count and what the Act asks of a strata that size. Open yours to set it up with the lots already filled in.