Agreement strata fee 2025

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In strata housing, the owners own their individual strata lots and together own the common property and common assets as a strata corporation.
Strata fees, also known as levies, are paid to the owners corporation (if one exists) to cover the management and upkeep of the building and its common areas. These fees can vary based on factors like location, property size, and amenities (such as pools and gyms).
Freehold strata is a type of property ownership that combines elements of freehold ownership and leasehold iniums. Whereas freehold ownership means you fully own the property and the land it sits on, freehold strata means you fully own your home and the land, but you share common areas and amenities.
The word strata refers to apartments on different levels. Strata title was first introduced in 1961 in the state of New South Wales, Australia, to better cope with the legal ownership of apartment blocks.

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How are strata fees calculated? As a guide, expect to pay between 0.3 per cent to 1.2 per cent of a propertys value in strata fees. Those with more amenities will be in the upper end of this range. Always do your homework on strata fees by looking at what is being charged by comparable buildings.
Strata properties are a popular housing choice in B.C. for the convenience, security, added amenities and good value. An estimated 1.5 million people live in strata housing. Strata housing can include: condos, townhouses, duplexes, even single family homes in bare land strata corporations (strata subdivisions).
Strata housing is often referred to as condos or iniums. However, strata housing not only includes apartment-style iniums but can also include: duplexes, townhouses, fractional vacation properties, even single family homes in bare land strata corporations (strata subdivisions).

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