BC cost guide
What does a depreciation report cost in BC?
A depreciation report for a BC strata corporation typically costs about $1,500 to $10,000 or more. The cost varies with the size and complexity of the property: a small condominium sits at the low end, and a high-rise apartment building at the top.
What a study typically costs
The cost of a depreciation report varies with the size and complexity of the property. As a general guide:
Fewer than 50 units
Smaller condominiums
$1,500 to $5,000
50 to 200 units
Larger townhouse complexes and mid-rise apartments
$3,500 to $7,500
More than 200 units
High-rise apartment buildings
$7,500 to $10,000+
Want your real number instead of a range? Our quote system prices your building from its type, unit count and location, and emails you a PDF within seconds with three package options side by side.
Get your quoteWhat moves the cost
Building type comes first. An apartment building has the most shared infrastructure: envelope, roofing, elevators, boilers, corridors, parkade and life safety systems. A townhouse corporation shares less, and a bare-land corporation may own little more than roads, drainage and landscaping. That is why two buildings with the same unit count can be very different jobs.
Then the number of units. Within a building type, more units means more of each component to inventory and a larger financial model.
Then what comes with the study. A study on its own costs least. Packages that add reserve fund software for the five-year term, annual updates, more board meetings or a more in-depth, engineer-signed study cost more, and are usually the better value over the life of the study.
What should not change it: a normal turnaround. Ours is a first draft about 30 days after approval, and it does not cost extra.
Plan the Electrical Planning Report at the same time. BC stratas also need an EPR, with its own deadline. Booked together with BC Hydro's funded Opportunity Assessment and EV Ready Plan, a typical eligible strata pays about $3,000 net for all three. See the BC Hydro bundle.
Three ways to buy a depreciation report from Reserve Plus
Basic
The study on its own
- Document review and site inspection
- Draft report and one virtual draft meeting
- Revisions and the final signed study (PDF)
Standard
The study plus myRPlanner
- Everything in Basic
- myRPlanner for five years
- Up to five virtual meetings
- Annual reserve fund updates and ongoing support
- Option to pay annually
Premium
A more in-depth study, signed by a Professional Engineer
- Everything in Standard
- More in-depth site inspection
- More detailed component descriptions and condition analysis
- Signed by a Professional Engineer (P.Eng.)
- Dedicated account manager and a board or AGM presentation
- Option to pay annually
Every Reserve Plus depreciation report is signed by a registered, qualified engineering professional and meets the Strata Property Act and Regulation, including the funding models the Regulation requires. Your quote shows the price of all three packages for your building.
Common questions
How much does a depreciation report cost in BC?
Roughly $1,500 to $10,000 or more. The cost varies with the size and complexity of the property. Smaller condominiums of fewer than 50 strata lots typically run $1,500 to $5,000, larger townhouse complexes and mid-rise apartments of 50 to 200 strata lots $3,500 to $7,500, and high-rise apartment buildings of more than 200 strata lots $7,500 to $10,000 or more. Packages that add reserve fund software and ongoing support cost more. For your exact price, the Reserve Plus quote form returns a quote within seconds.
Can the strata pay for the depreciation report from the contingency reserve fund?
Yes. The Strata Property Act lets a strata corporation pay for a depreciation report from the operating fund or the contingency reserve fund, by majority vote. Reserve Plus also offers annual payments on its Standard and Premium packages.
Can a strata still vote to skip or defer the depreciation report?
No. Since July 1, 2024, a strata corporation with five or more lots must obtain a depreciation report at least every five years, and the three-quarters vote that used to let owners waive it is gone. The first deadlines are July 1, 2026 in Metro Vancouver, the Fraser Valley and the Capital Regional District, and July 1, 2027 everywhere else.
Why does an apartment building cost more than a townhouse with the same number of lots?
Because there is more to assess. An apartment building has elevators, boilers, corridors, a parkade and life safety systems as common property, and every one of them has to be inventoried, condition-assessed and costed over 30 years. A townhouse strata usually shares far less, and a bare-land strata may own little more than roads, drainage and landscaping.
Can we get the Electrical Planning Report at the same time?
Yes. Reserve Plus prepares Electrical Planning Reports as well as depreciation reports, and can do both in one engagement, and for buildings that qualify for BC Hydro funding a typical bundle of the Opportunity Assessment, EV Ready Plan and EPR costs about $3,000 net to the strata.
Does a depreciation report affect our strata insurance?
It can help. Insurers price a building on its risk, and a current depreciation report is one of the clearest records of the building’s condition and the strata’s plan and funding to look after it. It is not an insurance appraisal, which is a separate report. How insurers look at your reserve fund.
What is the fastest way to get an exact price?
Use the Reserve Plus quote form. Enter the building type, number of lots and location, and your quote arrives by email as a PDF within seconds, with three package options side by side.
Get your exact price in seconds
Tell us the building type, unit count and location. Your quote arrives by email as a PDF with all three packages.
Request a quote