Strata management in Vernon
Vernon's stratas split two ways: just over half are four lots or fewer, and most of the rest are the size of a townhouse complex.
Free for stratas of 4 lots or fewer, with no time limit.
In short
A strata in Vernon doesn’t need a management company. The Strata Property Act lets the owners’ elected council run it. Of the city’s 557 stratas, 302 have four lots or fewer and 255 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.
Vernon stratas by size
| Size | Stratas | Share |
|---|---|---|
| 1 to 4 lots | 302 | 54% |
| 5 to 10 lots | 59 | 11% |
| 11 to 30 lots | 110 | 20% |
| 31 to 100 lots | 79 | 14% |
| More than 100 lots | 7 | 1% |
| All Vernon stratas | 557 |
Running a strata in Vernon
302 of Vernon's 557 stratas have four lots or fewer. Another 189 have between 11 and 100, and those carry every duty the Act sets, a depreciation report included. Only 7 have more than 100 lots.
In a smaller city the same few owners often sit on council year after year. When one of them steps down, what they knew has to stay with the strata: which contractor did the roof, why the special levy was voted the way it was, where the depreciation report is. ManageStrata keeps the documents, the decisions and the books with the corporation, so a new treasurer starts where the last one stopped.
What the Act asks of a Vernon 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 Vernon, 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 Coldstream, Armstrong, Lumby and the rest of the Regional District of North Okanagan.
What it costs
Management companies in BC typically charge $25 to $60 a lot each month. For a 21-lot strata, the typical size in Vernon once you pass four lots, that is $525 to $1,260 a month.
ManageStrata is free for a strata of 4 lots or fewer. A 21-lot strata pays $83.16 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 Vernon 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.