BrokerSample report
A full strata review.
This is a complete review exactly as Intelligence produces it for one building: 26 documents read, every finding cited to the document it came from. It is a sample; the building, figures and dates are from that file.
Executive Summary
Key findings
0 critical · 9 watch · 4 cleanThe most recent depreciation report update was prepared by RDH Building Science Inc. and submitted November 10, 2023, based on a site visit of August 2, 2023 and 2022/2023 fiscal year financial data. As of today (July 30, 2026) the report is approximately 2 years and 8 months old. The previous report was dated May 31, 2019. The Strata Property Act requires updates every 5 years (formerly 3 years under the 2023 report's own language); the next update would be due around 2026–2028. No updated report has been distributed to owners as of the documents on file.
The depreciation report (November 2023) projects approximately 22 special levies totalling roughly $7,800,000 over 30 years under the current $30,000/year CRF contribution. Even the highest alternative scenario ($60,000/year with 5% annual increases) still projects ~6 levies totalling ~$5,000,000. Major near-term items include podium waterproofing (~$1,020,000 CYD, 2025), domestic water re-piping (~$400,000 CYD, 2026), SBS roof replacement (~$266,000 CYD, 2028), asphalt shingle roof (~$232,800 CYD, 2028), and elevator modernization (~$122,000 CYD, 2025). The $150,000 recirculation line levy (March 2026) addresses only one component.
The depreciation report scheduled podium waterproofing membrane replacement for 2025 at an estimated $1,020,000 (CYD). The current CRF balance of $271,463.23 (June 30, 2026) is well below the projected cost. No minutes or financial documents confirm this project has been approved, levied, or commenced. The status of this major capital item is not confirmed in the documents provided.
The strata experienced at least five water leaks from recirculation lines over the two years prior to July 2025, causing approximately $52,000 in common property damage. A $150,000 special levy was approved at the March 24, 2026 SGM (Unit 312 share: $3,800.41, due May 15, 2026). Form B shows $0.00 owing for this unit. The broader domestic water distribution re-piping (estimated $400,000 CYD) remains a separate near-term capital item not yet funded.
The make-up air unit and heat exchanger were shut down due to failure and safety concerns as of March 2026. Replacement was approved by owners (up to $50,000 from CRF) and Woola Mechanical was engaged. Completion is not confirmed in the documents on file.
The depreciation report characterizes the current $30,000/year CRF contribution as representing only 13% of the progressive reserve benchmark. The CRF balance as of June 30, 2026 is $271,463.23. Multiple large capital expenditures are forecast within the next 2–5 years (roofs, podium, plumbing, elevator), and the current CRF level is insufficient to fund them without special levies.
The 2023 depreciation report recommends a Building Enclosure Condition Assessment (BECA) be completed prior to or alongside the next depreciation report update, to refine renewal timing for roofs, podium waterproofing, cladding, windows, and balcony membranes. No evidence of a completed BECA appears in the documents provided.
The electrical planning report (July 2025) confirms the strata has sufficient electrical capacity to support up to 20 Level 2 and 40 Level 1 EV chargers within the existing 1,200-amp service using a phased approach. No EV chargers are currently installed and no EV bylaw or owner-install policy is documented in the materials provided.
The 2023 depreciation report site visit observed localized active water seepage from the southwest exterior stair wall into the parkade (ponding water adjacent to Stall 37). This was noted as an observation; no remediation is documented in the subsequent minutes.
Completed 2026 — Special levy of $150,000 (total) approved by 3/4 vote at the SGM held March 24, 2026, for replacement of hot and cold-water recirculation lines in common areas (excluding strata lots). Due date was May 15, 2026. Strata Lot 18 (Unit 312) share: $3,800.41. Physical work was approved to commence after May 15, 2026; as of the Form B date (July 29, 2026) Form B section (d) shows $0.00 owing, indicating this unit's levy has been paid.
$0.00
N/A
Source documents reviewed contain no notice of outstanding legal proceedings or judgments.
Financials
Contingency Reserve Fund
CurrentForm B
Where your strata fees go
Annual split · CRF top-up vs operatingOf every dollar collected in strata fees, 88¢ funds day-to-day operations and 12¢ is set aside in the Contingency Reserve Fund for future capital work.
Annual budget breakdown
Depreciation & Special Levies
A depreciation report is the building’s long-range repair budget. An engineering firm inventories every shared component — roof, windows, elevators, piping, envelope, boilers — estimates how many years each has left and what replacing it will cost, then projects those costs over the next 30 years against what the strata is putting aside. BC stratas of five units or more must have one and renew it every five years. It matters to a buyer because it is the clearest evidence of what is coming: where the projected balance stays healthy, owners keep paying their monthly fees; where it runs short, the shortfall is made up by a fee increase or a special levy billed to whoever owns the unit at the time.
Reserve funded ratio
Report: 2023-11-10The contingency reserve is 13% funded against the depreciation report’s recommended balance — below the 25% Strata Property Act floor, so a mandatory 10%/yr top-up applies.
Contribution options
RDH recommends increasing the annual CRF contribution above the current $30,000/year. Alternative #1 starts at $45,000/year with 5% annual increases (representing 20% of progressive reserve); Alternative #2 starts at $60,000/year with 5% annual increases (representing 27% of progressive reserve). The current scenario (13% of progressive reserve) is projected to require approximately 22 special levies totalling ~$7,800,000 over 30 years.
30-year funding projection (2023–2052)
Source: 2023-11-10Near-term big-ticket work
Next 10 yearsRED = WITHIN 5 YEARS · AMBER = 5–10 YEARS
Recommended vs. done since
Report: 2023-11-10The report recommended 32 projects — 4 completed, 3 approved or under way, 21 due by 2026 with no evidence in the documents since, 4 not due yet. Items with no evidence may still have been done; the minutes on file may simply not cover them — worth asking the strata.
No mention of circulation pump replacement in post-report documents.
March 2026 council minutes: 2017 hot water tank (likely the 2014-installed unit per depreciation report) failed; emergency replacement approved up to $15,000 plus tax from CRF.
No mention of a formal third-party domestic water distribution inspection in post-report documents.
2025 AGM minutes: enterphone replaced (old system 30 years old, parts unavailable); up to $5,000 reimbursed from CRF.
Annual fire inspections completed but no specific battery pack replacement documented.
Annual fire inspections completed; smoke detector replacements charged back to individual units (July 2024 minutes) but no common-property detector replacement documented.
Garage gate tension springs replaced (November 2025) but no motor replacement documented.
Annual sump pump servicing is documented (Blue Moon, $6,407.10 in 2025) but no replacement of the sump pump control panel is mentioned.
Sprinkler line repairs completed (November 2025) but no fast-response head replacement documented.
No concrete paving replacement documented; bundled with podium waterproofing which has not commenced.
No firefighter operation switch replacement documented.
No voice communication device installation documented.
No elevator cab or hoistway upgrade documented in post-report documents.
No exit sign or emergency lighting replacement documented.
No fire extinguisher replacement documented in post-report documents.
No elevator modernization or controls replacement documented in post-report documents.
No interlocking paving replacement documented.
No lobby door replacement documented in post-report documents.
No approval, levy, or commencement of podium waterproofing replacement documented in any post-report minutes or financial statements.
No site guardrail replacement documented.
Multiple council meetings document ongoing plant replacements and landscaping work (Premier Landscaping); Bartlett Tree Experts engaged for soil treatment and hazard tree removal.
July 2024 council minutes: retaining wall repair at front entrance completed ($3,562.50).
November 2025 council minutes: sprinkler line leaks repaired (Community Fire); drywall holes patched. Partial renewal of compromised piping.
No zone control valve replacement documented.
No storage locker reconstruction documented.
Carpet cleaning completed (July 2024, $2,500) but no carpet replacement documented.
March 2026 SGM: $150,000 special levy approved for recirculation line replacement (subset of full domestic re-piping); work to commence after May 15, 2026. Full domestic distribution re-piping remains outstanding.
A deck recoating request from an owner was noted (July 2025) but no strata-wide balcony membrane renewal documented.
No exterior sealant renewal documented.
No building-wide fibre cement repainting documented.
No wood trim repainting documented.
March 2026 SGM: up to $50,000 from CRF approved for make-up air unit and heat exchanger replacement; Woola Mechanical engaged. Completion not confirmed.
Maintenance & Open Issues
Open & recent work
21 items from minutesActive water seepage from southwest exterior stair wall into parkade observed at site visit (near Stall 37); no remediation documented in subsequent minutes.
Ceiling stains in amenity room washroom observed at 2023 site visit; possible pinhole leaks in domestic water distribution system; further investigation recommended by RDH.
Depreciation report scheduled renewal for 2025 at ~$1,020,000 CYD; no approval, levy, or commencement documented in minutes or financials.
Depreciation report scheduled for 2026 at ~$400,000 CYD; the $150,000 recirculation line levy addresses only recirculation lines, not the full domestic distribution system.
Depreciation report scheduled elevator controls, tank unit, valve replacement and cab/hoistway upgrades for 2025 at ~$122,000 CYD; no approval documented.
Depreciation report schedules two-ply SBS roof replacement for 2028 at ~$266,000 CYD; roof maintenance completed 2025 (Design Roofing, up to $12,000).
Depreciation report schedules replacement for 2028 at ~$232,800 CYD.
Depreciation report schedules renewal for 2027 at ~$62,500 CYD.
Depreciation report schedules repainting of fibre cement siding for 2027 (~$58,000 CYD) and wood trim for 2027 (~$46,000 CYD).
Depreciation report schedules sealant replacement for 2027 at ~$25,000 CYD.
Recommended by 2023 depreciation report prior to or in conjunction with next depreciation report update; no evidence of commissioning in documents.
Units shut off due to failure and safety concerns; up to $50,000 from CRF approved; Woola Mechanical engaged; parts lead time 6–8 weeks; completion not confirmed in documents.
2017 hot water tank failed; emergency CRF expenditure up to $15,000 plus tax approved; completion not confirmed in documents.
Special levy of $150,000 approved March 24, 2026; work to commence after May 15, 2026 levy collection; Woola Mechanical engaged.
Sprinkler line leaks repaired (Community Fire); drywall holes patched.
Annual sump pump service and maintenance completed by Blue Moon ($6,407.10 plus taxes).
Garage gate tension springs replaced.
Old enterphone (30 years old, parts unavailable) replaced; up to $5,000 reimbursed from CRF at 2025 AGM.
Annual fire inspection and all deficiencies completed (Community Fire, $2,185); next inspection scheduled April 21, 2026.
Completed by Reliance Asset Consulting (report dated July 21, 2025, inspection March 4, 2025); cost reimbursed from CRF at 2025 AGM.
Emergency leak in electrical room; Blue Moon Plumbing performed hydro flushing and replaced sanitary lines; approved as emergency CRF expenditure.
Water & Moisture History
Reported incidents
7 on recordRepaired (Platinum Restoration remediation, Blue Moon Plumbing repair, drywall patched). Fifth recirculation line leak in two years.
Repaired; costs charged back to owner; owner's insurer engaged.
Investigated and confirmed; repair completed.
Repaired by Blue Moon Plumbing; hydro flushing and sanitary line replacement completed as emergency CRF expenditure.
Emergency remediation by Platinum Pro Claim ($11,848.75 from CRF); common property repairs obtained quotes; owners responsible for their own strata lot repairs.
Repaired in 2022 (per depreciation report maintenance history).
Comprehensive building envelope rehabilitation completed in 2008 (new rainscreen cladding, windows, balcony membranes, roofing, sealants, guardrails).
Insurance
Premium history
-5% since 2025Coverage summary
- Policy period April 1, 2026 – April 1, 2027
- Insured: The Owners of Strata Plan LMS2088, Riverwood Gardens, c/o Meridian Property Management
- Broker: Coastline Insurance Services Ltd
- (Coastline | Coastline), Marc Delgado
- Property insured value: $17,400,000 with 130% Extended Replacement Cost
- Insurance appraisal dated April 1, 2026 (Year 1 of cycle)
- Total annual premium (2026–2027): $31,462 plus $475 Legal Expense = $31,937 combined
- The 2025/2026 insurance premium was $33,627 (per AGM Oct 2025 CRF loan resolution)
- the 2026/2027 renewal achieved a reduction of approximately $1,500 (per March 2026 council minutes).
Insurance deductibles
Bylaws & Rules
Pet restrictions
Most askedMaximum 1 dog and 1 cat, or a combination not to exceed 2 animals per strata lot (plus a reasonable number of fish and up to 2 caged birds). All dogs must carry a current municipal licence
Exotic pets (snakes, reptiles, spiders, large cats) are prohibited
Pets must be registered with council within 30 days. Pets must be leashed (max 6 ft) on common property at all times.
Amenity rules & booking
- Pool hoursPool and ping-pong table available 8:30 am to 10:00 pm daily.
- Elevator bookingResidents must use the elevator service key during moves; doors must not be jammed open.
- Common rooms generalMaximum 2 guests per owner/resident; no excessive noise; no smoking; no children under 18 unless accompanied by an adult; users responsible for clean-up.
EV Charging Readiness
Readiness
In progress1,200-amp main service with estimated 737 amperes of available capacity (as of July 2025 electrical planning report). The report concludes the existing service can accommodate up to 20 Level 2 EV chargers and 40 Level 1 EV chargers using a phased installation approach without a main service upgrade. No EV charging infrastructure is currently installed.
Electrical planning report completed by Reliance Asset Consulting (report date July 21, 2025, inspection March 4, 2025) as required under SPA s. 94.1. Report recommends phased implementation not exceeding 30% of remaining supply (~293 amperes) before re-evaluating demonstrated load. No EV bylaw or owner-install policy is documented in the bylaws or rules provided.
Meeting Minutes
Recent highlights
Latest: 2026-03-24- SGM March 24, 2026: Owners approved a $150,000 special levy (due May 15, 2026) for replacement of common-area hot and cold-water recirculation lines; work to commence after levy collection.
- SGM March 24, 2026: Owners approved up to $50,000 from the CRF to replace the failed make-up air unit and heat exchanger (units shut off due to safety concerns).
- Council March 24, 2026: Approved Woola Mechanical to complete the heat exchanger and make-up air unit replacements; hot water tank replacement (2017 unit failed) approved as emergency CRF expenditure up to $15,000 plus tax.
- AGM October 2, 2025: 4% strata fee increase approved for 2025/2026 fiscal year; CRF loan extension of $33,627 for insurance premium approved; enterphone replacement (up to $5,000) reimbursed from CRF.
Meeting-by-meeting
9 meetings · newest firstSGM · 2026-03-242 notes
CM · 2026-03-2411 notes
CM · 2025-11-1010 notes
AGM · 2025-10-026 notes
CM · 2025-07-2813 notes
CM · 2025-03-2512 notes
CM · 2024-11-056 notes
AGM · 2024-10-014 notes
CM · 2024-07-2211 notes
Legal & Litigation
No active or pending litigation
The uploaded Form B reports zero outstanding legal proceedings, no judgments, and no current actions against the strata corporation.
Title & Charges
Neighbour & Nuisance Flags
Strata Contacts
| Role | Name | Phone | Portal | |
|---|---|---|---|---|
| Management company | Meridian Property Management | (604) 555-0170 | d.whitfield@meridianpm.ca | clients.meridianpm.ca |
| Strata manager | Daniel Whitfield | (604) 555-0170 | d.whitfield@meridianpm.ca | — |
Sale-Readiness Checklist
Still needed
0 documents pendingAll required documents are on file.