Cohousing-L Mailing List: Re: Unit Entitlements

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Hi Elizabeth,

I thought I'd chime in since we're in the same province.

In British Columbia, strata corporations designing unit entitlement are
expected to comply with the Strata Property Act.

Being out of compliance exposes a strata corporation to liability.

If you deviate from the standard unit entitlement formula, there is a
specific process where you submit your Form V for approval by the BC
Financial Services Authority (BCFSA) and pay $200.

If you design a non-standard unit entitlement, I recommend having a lawyer
with strata expertise review it before you register it with the Land Title
Office.

I have learned from experience that a layperson who wants to craft
non-standard policies should first be very familiar with the standard
policies and why they are set up the way they are.

There is more info here:

https://www2.gov.bc.ca/gov/content/housing-tenancy/strata-housing/operating-a-strata/finances-and-insurance/unit-entitlement

All the best with Compass!
Mela
(At Cranberry Commons in Burnaby)




On Sat, Jul 6, 2024, 14:56 Elizabeth Rosenau <ejrosenau [at] gmail.com> wrote:

> Hello!!
>
> I’m part of a Canadian community called Compass Cohousing that’s planning
> to starting building soon.  We are looking to engage realtors and this has
> brought up the subject of “unit entitlements” as a component of setting our
> monthly Strata fees.  (I believe our Strata fees may be analogous to HOA
> fees in the USA.)
>
> Right now we are using the square footage of each unit to calculate those
> fees.  We realize that square footage alone is not the ideal way forward
> because it doesn’t take into consideration the expense of operating common
> facilities which we assume will be used by residents of all unit sizes.
>
> Here are my questions:  What was your community’s experience deciding how
> to calculate unit entitlements?  Has your community been satisfied with the
> way the entitlements work or have there been struggles or pushback?  Is it
> easy to change unit entitlements after occupancy?
>
> Thanks in advance for any wisdom you may have to share.
>
> Elizabeth Rosenau,  Compass Cohousing.
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