Surrey depreciation report rules in 2026
The City of Surrey is a member of Metro Vancouver. See Metro Vancouver member jurisdictions.
Every 5 years, and no more waivers
Since July 1, 2024, stratas with 5 or more lots must get a depreciation report at least once every 5 years. They can no longer defer it with an annual 3/4 vote. Stratas with 4 or fewer lots are exempt. These changes brought into force sections 4 and 12 of the Municipal Affairs and Housing Statutes Amendment Act (No. 2), 2020, by Order in Council 204/2024 (B.C. Reg. 88/2024). Sources: the BC government depreciation report requirements (dated November 12, 2025), Strata Property Regulation ss. 6.2, 6.21, 6.22 and 6.23, and OIC 204/2024.
The July 1, 2026 catch-up date for Metro Vancouver
Surrey is in Metro Vancouver. A strata established before July 1, 2024 that had not obtained a report since December 31, 2020 had to get one before July 1, 2026. The same date applied in the Fraser Valley and the Capital Regional District. Elsewhere in BC the catch-up date is July 1, 2027. If that is your building, the date has passed. Start now.
New stratas
Stratas established from July 1, 2024 to before July 1, 2027 need a first report within 2 years of the first AGM. From July 1, 2027, it is 18 months, and the developer pays into the contingency reserve fund toward it: the lesser of $5,000 plus $200 per lot or $30,000.
What a depreciation report must include
- An on-site visual inspection
- A component inventory with estimated service life over 30 years (structure, exterior and roofs, building systems, amenities, parking, utilities, landscaping, interior finishes, green components, balconies)
- A 30-year cost forecast
- At least 3 cash-flow funding models for the contingency reserve fund
- The provider's qualifications, insurance and relationship to the strata
- An executive summary
That list is from Strata Property Regulation s. 6.2(1) to (3).
Who can prepare a depreciation report in BC
Since July 1, 2025, only designated professionals: EGBC engineers or professional licensees engineering; AIBC architects or architectural technologists; ASTTBC applied science technologists or certified technicians; AACI accredited appraisers; REIC certified reserve planners; CIQS professional quantity surveyors. The list was expanded on October 27, 2025. See Engineers and Geoscientists BC and regulation s. 6.2(0.1).
How the report shapes your contingency reserve fund
Each year's CRF contribution must be set after considering the most recent depreciation report. The contribution must be at least 10% of the operating fund budget. Source: regulation s. 6.1. The most recent report must be attached to the Form B Information Certificate.
Choosing a depreciation report provider
The Province recommends a request for proposals or call for bids, at least four to six weeks for responses, and inviting bidders for a site tour. CHOA and VISOA publish sample RFPs. Source: choosing a depreciation report provider.
Plan it alongside your Electrical Planning Report
Surrey stratas with 5 or more lots also need an Electrical Planning Report by December 31, 2026. Source: the BC government EPR page.
How a free intro works
- You name the building, the report and the timing.
- We match you with a vetted, qualified provider.
- We set up the intro.
The first intro is free. No commission.
Free quotes in exchange for a review
We line up 2 or 3 vetted providers to quote your depreciation report at no cost to you or the strata. If it saves you time, all we ask is a short review.
Surrey depreciation report questions
How often does a Surrey strata need a depreciation report?
At least once every 5 years, if the strata has 5 or more lots. Stratas with 4 or fewer lots are exempt.
Can our strata vote to skip the depreciation report?
No. Since July 1, 2024, stratas can no longer defer a depreciation report with an annual 3/4 vote.
We have not had a report since 2020. What now?
Metro Vancouver stratas, including Surrey, without a report since December 31, 2020 had to get one before July 1, 2026. If that is your strata, the date has passed. Start the process now.
Who can prepare a depreciation report in BC?
Only designated professionals: engineers or professional licensees engineering (EGBC), architects or architectural technologists (AIBC), applied science technologists or certified technicians (ASTTBC), accredited appraisers (AACI), certified reserve planners (REIC) and professional quantity surveyors (CIQS).
What does a depreciation report include?
An on-site visual inspection, a list of components with their expected life over 30 years, a 30-year cost forecast and at least 3 funding models for the contingency reserve fund. It also names the provider, their qualifications and their insurance.
Do buyers get to see our depreciation report?
Yes. The most recent depreciation report must be attached to the Form B Information Certificate given to buyers.
How does the free intro work?
Tell us the building, that you need a depreciation report, and your timing. We connect you with a vetted, qualified provider. The first intro is free.
This page is general information, not legal advice. Last reviewed September 2026.
Other strata services we set up intros for
- Vancouver strata Electrical Planning Reports
- Vancouver strata roofing contractors
- Burnaby strata plumbing
- North Vancouver strata fire inspections
- Book a free intro
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Surrey electrical is the contractor intro page for electrical work.
Need a depreciation report for a Surrey building?
Tell us the building, the report and the timing. We set up a free first intro with a vetted, qualified provider. Want to compare? We will line up 2 or 3 vetted providers to quote the report at no cost to you or the strata. All we ask in return is a short review.