Some members of British Columbia’s strata sector are raising the alarm about depleted reserve funds and looming special levies, while also calling on the provincial government to undertake a full review of the Strata Property Act, which is 26 years old and due for an update.
Their feedback offers meaningful perspectives, particularly when considered alongside additional context and the views of primary stakeholders in strata governance.
The numbers are real, but the story is more complicated.
With an estimated 1.5 million British Columbians living in strata properties, the stakes of this conversation are significant. A 2026 report from Vancouver software firm OctoAI Technologies painted a stark picture: more than 100,000 B.C. condo owners face an average special levy of $8,000 this year, with owners needing to budget $2,000 to $3,000 annually for the next decade. However, that number represents approximately 13 per cent of B.C.’s estimated 778,000 strata lots, and should be considered as part of the overall picture. The comparison to Ontario—where average monthly reserve contributions are $238 versus B.C.’s $77—has been used to suggest B.C. owners are heading for a financial reckoning.
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