Condo | Strata Corporation
Whether one calls a lot in a freehold or leasehold development a strata or condo, shared developments can be tilt-up industrial, duplexes, fractional vacation properties, townhomes or single-family houses sharing a bareland corporation etc.
A lot can be of residential, commercial, industrial or mixed-use non-profit ownership within a single development that can also have common amenities and/or shared air-space parcels with another development.
A development can be all residential or all of another type, but many development offer a combination of types, some of which can be divided into sections each having their own responsibilities, and reserve fund.
A best-practice depreciation report will review the latest strata plans registered with the Land Title Authority to be as up-to-date as possible with the Bylaws, easements and other legal aspects of a development. The strata plans also provide the basic measurements on which unit quantities and costs are built.