What Should I Look for in a Depreciation Report?

A depreciation report is one of the most important documents when buying a condo in B.C. It outlines a building’s long-term maintenance plan.

Key Sections to Review

• Projected future repairs

• Contingency reserve fund health

• Building lifespan of major components

• Cost schedule for upcoming work

Red Flags

• Low reserve fund

• Major repairs with no funding plan

• Repeated deferral of essential maintenance

Why It Matters

A depreciation report helps you understand future levies, fee increases, and long-term building health.

The Bottom Line

Reviewing this report carefully helps buyers avoid unexpected costs and select well-managed buildings.