{"id":2074,"date":"2021-04-20T06:45:14","date_gmt":"2021-04-20T13:45:14","guid":{"rendered":"http:\/\/www.monettyler.com\/blog\/?p=2074"},"modified":"2021-04-20T06:45:14","modified_gmt":"2021-04-20T13:45:14","slug":"here-are-seven-strata-terms-you-should-know","status":"publish","type":"post","link":"https:\/\/www.monettyler.com\/blog\/2021\/04\/20\/here-are-seven-strata-terms-you-should-know\/","title":{"rendered":"Here are seven strata terms you should know"},"content":{"rendered":"

One third of BC residents live in a strata home, whether it\u2019s a condo, townhouse, or multi-plex unit.<\/p>\n

If you\u2019re looking to own a strata home, make sure you\u2019re familiar with related terminology. Here\u2019s a guide to some of those terms.<\/div>\n
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Strata<\/h1>\n<\/div>\n<\/div>\n
In a strata development, the parts created for individual ownership are called \u201cstrata lots.\u201d Informally, these lots are referred to as a \u201cstrata unit\u201d or a \u201ccondominium.\u201d The rest of the development consists of common property. Strata housing can include: condos, townhouses, and multiplexes.<\/div>\n
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Strata corporation<\/h1>\n<\/div>\n<\/div>\n
Strata owners own their individual strata lots and together own the common property as a strata corporation.<\/div>\n
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Strata council<\/h1>\n<\/div>\n<\/div>\n
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The law recognizes the need for an executive body to carry out the duties of the strata corporation and to oversee the corporation\u2019s affairs between general meetings of the eligible voters. This executive body is called the strata council. It\u2019s effectively a board of directors.<\/p>\n

The strata council\u2019s role is to:<\/p>\n