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  #1  
Old Posted Oct 8, 2015, 8:53 PM
officedweller officedweller is offline
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Join Date: Jul 2001
Location: Vancouver
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Easing requirement for dissolution of a Strata

This is good news for redevelopment of "underutilized" sites.
(i.e. townhouses along the Cambie corridor?)


Quote:
B.C. proposes changes for strata owners
Vancouver, BC, Canada / News Talk 980 CKNW | Vancouver's News. Vancouver's Talk
Charmaine de Silva
October 08, 2015 11:21 am

If you’re a strata owner of an older building, you could be sitting on some pretty valuable real estate.

Current Strata Property Act rules make it tough, though, to sell the building to a developer, because every single owner in the strata needs to agree.

The province wants to change that.

Proposed changes would only require an 80 per cent vote in favour of winding down the strata.

Meaning, one hold-out owner will no longer be able to make it impossible to sell, unless your building has fewer than five units.
...
http://www.cknw.com/2015/10/08/provi...s-stratas-rta/
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  #2  
Old Posted Oct 8, 2015, 9:04 PM
Jack Guevara Jack Guevara is offline
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This seems like a good idea! 80% is a big majority. Although I can imagine some people will be forced out of their homes. But overall, pros > cons
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  #3  
Old Posted Oct 8, 2015, 9:06 PM
WarrenC12 WarrenC12 is offline
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Interesting.. time will tell if 80% is too high or too low, but a good start.
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  #4  
Old Posted Oct 8, 2015, 11:06 PM
go_leafs_go02 go_leafs_go02 is offline
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Good start. Makes complete sense to reduce the requirement.
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  #5  
Old Posted Oct 8, 2015, 11:43 PM
Pinion Pinion is offline
See ya down under, mates
 
Join Date: Jul 2007
Posts: 5,167
There's no way 80% of my building would agree to sell even if they were offered way over market value. Lots of aging, comfortable seniors and all owners.

But it's a step in the right direction.
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