At least every five years. That is the whole answer, but the part that catches strata corporations out is that it is a rolling requirement, not a box ticked once — a report older than five years does not comply, no matter how thorough it was when it was written.
The five-year rule
Under the Strata Property Act, a BC strata corporation with five or more strata lots must obtain a depreciation report and renew it at least every five years. A report that has passed its fifth anniversary is not a late report; it is a non-compliant one. New strata corporations come into scope after two fiscal year-ends from the initial annual general meeting.
The deferral vote is gone
This is the change most likely to catch out anyone working from older guidance. Depreciation reports were introduced by amendments to the Strata Property Act in 2009. In 2014 the province delayed enforcement and introduced a three-quarters-vote waiver, which let a strata corporation opt out simply by holding a vote — and deferring became widespread. In 2023, Bill 44 closed that loophole. There is no longer any vote that defers the requirement.
The first hard deadlines
- July 1, 2026 — strata corporations located wholly or partly in the Metro Vancouver Regional District, the Fraser Valley Regional District or the Capital Regional District.
- July 1, 2027 — all other BC strata corporations. Compliance is still mandatory; only the date differs.
- Every five years thereafter — the renewal cycle applies from then on.
Who has to comply
Strata corporations with five or more strata lots, across all strata types — residential, mixed-use and bare land. Buildings with an existing report that is outdated or non-compliant are in the same position as those with none. The only exemption under the current regulation is for strata corporations with fewer than five lots.
Why waiting is expensive
Corporations out of compliance face potential action from owners or purchasers, and buyers, realtors and lenders increasingly require a current depreciation report before a sale closes. The practical constraint is supply: qualified preparers book months out, and demand rises as each deadline approaches. A strata that starts the month before its deadline is competing for the same capacity as everyone else who did.
What "current" should mean in practice
Five years is the compliance floor, not a planning cycle. Costs move, components fail earlier or later than projected, and contributions that looked adequate three years ago may not be. Every Reserve Plus client gets myRPlanner (powered by StelorPM) included for the full term, which keeps the plan current between reports — comparing actual contributions and expenditures against the forecast each year, and showing the special-assessment risk as the numbers move.
Common questions
How often does a BC strata need a depreciation report?
At least every five years. A depreciation report older than five years does not comply with the Strata Property Act, so the requirement is a rolling one rather than something a strata corporation satisfies once.
Can a BC strata still vote to defer its depreciation report?
No. Bill 44 closed the three-quarters-vote waiver in 2023. Compliance is mandatory, and the only remaining exemption is for strata corporations with fewer than five strata lots.
When is the depreciation report deadline in BC?
July 1, 2026 for strata corporations located wholly or partly in the Metro Vancouver Regional District, the Fraser Valley Regional District or the Capital Regional District, and July 1, 2027 for all other BC strata corporations. After that, reports must be renewed at least every five years.