If you’ve been in Vancouver for a while you might remember the ‘leaky condo crisis’.
That crisis peaked about 15 years ago, and its still a common site to see condo buildings under tarps.
Unfortunately there are some reports we’re not out of the woods yet on building maintenance and construction quality.
This article in the Vancouver Sun talks goes over the crisis and how many moist condo units may still be out there.
In response to the last round of the crisis, the government introduced a new requirement for depreciation reports on strata property.
However, stratas have the option to exempt themselves from the requirement by agreement of three-quarters of their members.
Gioventu said that provision was put in to accommodate commercial-property stratas or strata-ownership arrangements on bare land where owners build their own homes and have no common services.
He said there there is no doubt some older residential strata corporations are exempting themselves because they know a depreciation report is “going to give them an ugly picture,” but the market is going to catch up with those situations when banks refusing financing on sales without the reports.
Gioventu said if there is a common theme, it is that “strata corporations have not been maintaining their buildings,” which is evident in problems that are cropping up with building decks and balconies, roofing systems and windows.
If you’re shopping for a condo how important is a depreciation report to you? Are you concerned about the history of leaky condos in Vancouver?
We received this PDF from Robert Funk, a building technologist who specializes in four story wood frame envelope failure.
Robert says that despite the Leaky condo crisis across the lower mainland we’re still building condos that will have water problems.
Here’s an excerpt and a few pictures from the PDF, download the full PDF here for the complete story.
“The way we’ve always done it” Written by Robert Funk
Leaky Condo remediation has come a long way in the last decade. In the last decade we have realized what a mess has been made and covered up in the walls of our homes. There are countless stories of heart break caused by financial devastation. First you purchase a home that you can afford and make payments on for the next 25 years in which time your building falls apart. Then comes the infighting of strata and owners, some for some against remediation. You pay a large sum of money, usually more than your original savings and down payment. Then for the next 18 months you live like a hostage under a tarp with loud apelike construction workers climbing in and out of your windows and banging on your walls. Welcome to Home Owner Hell.
I’m a building technologist and I specialize in Four Story Wood Framed Envelope Failure. This means I take buildings apart for a living. Things have changed allot, Rain screen,we discovered was used on 100 year old houses, (we never had to take them apart so it took a long time to discover this). Many more things have changed but some things have stayed the same and some have gotten even worse.
Continue reading We’re still building leaky condos