RSS

 
In Strata Property Ownership, Unit Entitlement indicates each Strata Lot's share in the Common Property (grounds, parkade, hallways, etc.), Common Facilities (guest suite, exercise room, bike storage), and other assets of a development.  The Unit Entitlement is used to determine the proportionate contribution for each Strata Lot to the expenses of the Strata Corporation ( all the owners = 'Strata Corporation').  The calculation of the Unit Entitlement figure as determined by a BC Land Surveyor, is based on the "habitable area" of the Strata Lot, expressed in square meters, rounded to the nearest whole number.  The habitable area means the area of a residential strata lot, which can be lived in, but does not include patios, balconies, agarages, parking stalls, mechanical rooms or storage lockers.  As a very simple example, if there are ten strata lots in a development, and they are all identical in size, then each owner would have 10% share in the common property, common facilities and other assets of the Strata Corporation, and therefore each would pay 10% of the expenses for these per year.
Read
Categories:   #IMHOME CONTEST | Ambleside, West Vancouver Real Estate | Annual Pumpkin Patch | Blueridge NV, North Vancouver Real Estate | Boulevard Real Estate | Boulevard, North Vancouver Real Estate | building | canuck place adventure challenge | Capilano Highlands, North Vancouver Real Estate | Capilano NV, North Vancouver Real Estate | Central Coquitlam, Coquitlam Real Estate | Central Lonsdale, North Vancouver Real Estate | Coal Harbour, Vancouver West Real Estate | Common Property | conquer cancer lynn valley, ride to conquer cancer | Deep Cove, North Vancouver Real Estate | Dollarton, North Vancouver Real Estate | Downtown VW, Vancouver West Real Estate | Dundarave, West Vancouver Real Estate | False Creek North, Vancouver West Real Estate | Forest Hills NV, North Vancouver Real Estate | Grouse Woods, North Vancouver Real Estate | habitable area | Hamilton, North Vancouver Real Estate | Heritage Woods PM, Port Moody Real Estate | Indian River, North Vancouver Real Estate | interest rates | Lions Bay, West Vancouver Real Estate | live in lynn valley | Lower Lonsdale, North Vancouver Real Estate | Lynn Valley, North Vancouver Real Estate | Lynnmour, North Vancouver Real Estate | Maintenance Fees | Municipality | North Vancouver Real Estate | Northlands, North Vancouver Real Estate | Oil Tank Removal | permits | Princess Park, North Vancouver Real Estate | pumpkin patch 2012 | Queensbury, North Vancouver Real Estate | Real Estate | Renfrew VE, Vancouver East Real Estate | Roche Point, North Vancouver Real Estate | Strata | Strata Lot | Strata Property Act | Tempe, North Vancouver Real Estate | Unit Entitlement | Upper Lonsdale, North Vancouver Real Estate | VNVED, North Vancouver Real Estate | Westlynn Terrace, North Vancouver Real Estate | Westlynn, North Vancouver Real Estate