RENTAL PM / CHAPTER 6 / PART 1

Question 1

What is the name of the legislation governing strata properties in BC?

Answer 1

The Strata Property Act

Question 2

True or False?

Only buildings may be subdivided using the strata concept.

Answer 2

Answer: False

Question 3

**TRUE OR FALSE?

A bare land strata is governed by The Strata Property Act and refers to the subdivision of land into strata lots and common property.**

Answer 3

Answer: True

Question 4

The bare land strata concept is often used in the development of recreational properties and manufactured home parks.

Answer 4

Answer: True

Question 5

This is the strata corporation’s executive body?

Answer 5

Answer: The Strata Council

Question 6

This is the strata corporation’s board of directors.

Answer 6

Answer: The Strata Council

Question 7

**Complete this Statement

A strata corporation is automatically created when a _ _ _ _ _ _ _.**

Answer 7

**Answer:

A strata corporation is automatically created when a developer files a strata plan at the Land Title Office.**

Question 8

**True or False?

The Strata Property Act prohibits the strata corporation from filing a lien for money owing for a fine or for the cost of remedying the owner’s contravention of a bylaw or rule.**

Answer 8

Answer: True

Question 9

**True or False?

The strata corporation may interview prospective tenants.**

Answer 9

Answer: False

Question 10

A strata is created by depositing a _______ _______ [two word answer] at the Land Title Office.

Answer 10

Answer:
strata plan

Question 11

True or False?
Every strata plan must show the strata owners.

Answer 11

Answer: False

Question 12

True or False?
Every strata plan must show the unit entitlement.

Answer 12

Answer: True

Question 13

True or False?
Common property is owned equally by all strata owners.

Answer 13

Answer: False

Question 14

_ _ _ _ _ _ is any part of a strata plan that is not a strata lot.

Answer 14

Answer: common property

Question 15

True or False:
For the purpose of taxation a strata owner will pay taxes on his/her strata lot while the strata corporation will pay taxes on the common property.

Answer 15

Answer: False

Question 16

This is the common property designated for the exclusive use of one or more strata lots.

Answer 16

**ANSWER:

Limited Common Property**

Question 17

True or False:
A strata owner owns the strata lot PLUS a fee simple interest of his or her proportionate share of the common property as a joint tenant with the other strata lot owners.

Answer 17

Answer: False
A strata owner owns the strata lot PLUS a fee simple interest of his or her proportionate share of the common property as a TENANT IN COMMON with the other strata lot owners.

Question 18

True or False:
Rules can only regulate common property and common assets, while Bylaws can regulate common property, common assets and strata lots.

Answer 18

Answer: True

Question 19

True or False?
Rules and Bylaws can regulate the Strata’s property, but only Bylaws can regulate what happens inside your home.

Answer 19

Answer: True

Question 20

True or False:
Residential strata owners are accorded one vote per owner

Answer 20

Answer: False

Question 21

**True or False?

A non-residential strata lot can have more than one vote if a Schedule of Voting Rights provides for it.**

Answer 21

Answer: True

Question 22

Common property is owned collectively by the strata lot owners, as tenants in common. Individual ownership is proportional to _ _ _ _ _ _

Answer 22

ANSWER: THE STRATA LOT’S UNIT ENTITLEMENT

Question 23

TRUE or FALSE:
The strata corporation is a professional services firm contracted by the strata council to take care of the maintenance and security of the property.

Answer 23

Answer: False

Question 24

True or False:
The strata council may pass rules governing the cleanliness and safety of individual strata lots

Answer 24

Answer: False

Question 25

**What is the first step to resolve a neighbour disturbance.**

Answer 25

**ANSWER: Appeal to the strata council**

Question 26

**True or False? The strata corporation is created by the owners of the strata lots who share an undivided interest in the common property.**

Answer 26

**Answer: False**

Question 27

**True or False? If a rule conflicts with a bylaw...the bylaw prevails.**

Answer 27

**Answer: True**

Question 28

**True or False? The strata corporation owns the common property?**

Answer 28

**Answer: FALSE**

Question 29

**True or False? When considering an application for a strata conversion, local council will take into consideration plans for relocating existing tenants.**

Answer 29

**Answer: True**

Question 30

**True or False? The Schedule of Unit Entitlement determines the liability of each strata lot for strata fees and special assessments.**

Answer 30

**Answer: True**

Question 31

**True or False? The strata corporation is usually comprised of 3 to 7 members and in larger developments, the strata corporation may hire a professional management company to help manage the corporation.**

Answer 31

**Answer: False**

Question 32

**True or False? The strata scheme is self-enforcing**

Answer 32

**Answer: True**

Question 33

**True or False? A strata plan is used for both strata developments and co-op developments.**

Answer 33

**Answer: False**

Question 34

**True or False? A strata plan is only required when a developer is building 10 or more strata lots.**

Answer 34

**Answer: False**

Question 35

**True or False? When determining if an existing apartment building may be converted to a freehold strata building, local council will consider the life expectancy of the building.**

Answer 35

**Answer: True**

Question 36

**True or False? When determining if an existing apartment building may be converted to a freehold strata building, local council will consider property tax revenues that will result from the conversion.**

Answer 36

**Answer: False**

Question 37

**True or False? The strata corporation must keep a record of all tenants and owners.**

Answer 37

**Answer: True**

Question 38

**Mainly, the strata corporation oversees the common property and enforces the _ \_ _ \_**

Answer 38

**ANSWER Mainly, the strata corporation oversees the common property and enforces the BYLAWS**

Question 39

**The _ \_ _ \_ _ \_ _ are the members of the strata corporation. And the board of directors is called _ \_ _ \_ .**

Answer 39

**ANSWER The OWNERS OF THE STRATA LOTS are the members of the strata corporation. And the board of directors is called THE STRATA COUNCIL**

Question 40

**The Strata Property Act (the "SPA") creates three types of property within a strata corporation . . . List the three types of property within a strata corp.**

Answer 40

**ANSWER: The Strata Property Act (the "SPA") creates three types of property within a strata corporation - the common property, the strata lots and something in between the two - limited common property ("LCP").**

Question 41

**Strata lot owners can designate common property as LCP by either ________ or through \_\_\_\_\_\_\_\_\_.**

Answer 41

**ANSWER: The owners can designate common property as LCP by either amending the strata plan or through a vote at an annual or special general meeting.**

Question 42

**TRUE OR FALSE? A developer can designate common property as LCP on the strata plan.**

Answer 42

**ANSWER: TRUE**

Question 43

# **FILL IN THE BLANK A bare land strata is governed by The Strata Property Act and refers to _ \_ _ \_ \_**

Answer 43

**ANSWER: . . . . refers to the subdivision of land into strata lots and common property.**

Question 44

**Strata corporation may give an owner or tenant permission to exclusively use common assets or common property that is not designated as limited common property. This arrangement is called _ \_ _ \_ _ \_ \_**

Answer 44

**ANSWER: Short Term Exclusive**

Question 45

**If a rule conflicts with a bylaw the _________ prevails.**

Answer 45

**ANSWER: BYLAW**

Question 46

**TRUE OR FALSE? Unlike a business corporation a strata corporation does not enjoy limited liability.**

Answer 46

**ANSWER: TRUE**

Question 47

**FILL IN THE BLANK: The Owner Developer can designate areas as LCP on the strata plan when it is deposited at _ \_ _ \_ \_**

Answer 47

**ANSWER: The Land Title Office**

Question 48

**The strata corp must keep records of. . . .**

Answer 48

**ANSWER: Duty to Keep Records, Minutes of annual and special general meetings, List of council members, List of owners, Mortgagees who have filed a Mortgagees Request for Notification, List of tenants, List of assignments, Cash flows.**

Question 49

**Where an application is made to covert a non-stratified building into a strata building, city council will consider the following . . .**

Answer 49

**ANSWER: [1] the current & future mix of rental vs. owner occupied housing stock [2] Proposals for relocating existing tenants [3] Life expectancy of the building.**

Question 50

**What are the FOUR duties of a strata corp?**

Answer 50

**ANSWER: Duty to Manage, Duty to Repair and Maintain, Duty to Insure, Duty to Keep Records.**

Question 51

**\_\_\_\_\_\_\_ __________ \_\_\_\_\_\_\_\_\_ [three word answer] are a type of property interest in real estate, referring to the "space" above land on the earth's surface. Generally speaking, owning or renting land or a building gives one the right to use and develop the space above the land.**

Answer 51

**ANSWER: AIR SPACE RIGHTS**

Question 52

**Explain how a strata lot is taxed?**

Answer 52

**Each strata lot, together with the owner's share in the common property, is deemed to be a separate parcel of land and improvement.**

Question 53

**TRUE OR FALSE? A bylaw which is passed by a strata corporation cannot be enforced against a strata lot owner unless or until it has been filed in the appropriate land title office**

Answer 53

**ANSWER: TRUE**

Question 54

**List 3 remedies a strata owner has to resolve a dispute with a strata corporation/strata council?**

Answer 54

**ANSWER: [1] sue for an INJUNCTION [2] apply to the Supreme Court of BC [3] arbitration**