Chapter 7 – Strata Properties

Question 1

Changing or creating strata bylaws

How many votes are needed?

Answer 1

3/4 must agree

Question 2

What is the difference between condo owners and co-op owners?

Answer 2

Condos = owns property – pays maintenance fee

Co-op = own share – takes turns for maintenance

Question 3

What is the difference between a form B and a form F?

Answer 3

Form B = information certificate

Form = certificate of payment

Question 4

Duties of strata council

Answer 4

Operating
Expense
Account

Contingency
Reserve
Fund account