What are they?
A Depreciation Report is a business plan that factors in when common assets such as roofs and elevators will need to be repaired, renewed or replaced. The idea behind depreciation reports is to budget for inevitable expenses so that strata owners are not ýblindsidedţ by Special Levies.
What is means to you
Filing a Depreciation Report can be put off but not having a report effects the resale of your property. Right now you can put them off forever but sooner or later they will become mandatory.