Strata Documents

KAS 3765 Strata Corporation is composed of the 39 owners (shareholders) in the OGT Complex. The Corporation manages an yearly budget of approximately $240,000 with assets valued at approximately $17 million (the insurance value of the OGT buildings and common areas).

The OGT Strata Council works with the Property Manager on behalf of all owners to ensure that our infrastructure and common areas are maintained to a high degree, helping to increase the value of our assets while strengthening our community.

Bylaws and rules affect the strata lot owner's (and tenant's) rights and responsibilities and set out what the strata corporation will be like to live in and how it is administered. Bylaws and rules also apply to visitors.

A depreciation report is a key management tool for stratas. It helps the owners in a strata corporation to plan and pay for the repair, replacement and renewal of common property and assets such as a roof, windows, elevators, roads, utilities and other items. 

The Strata Property Act requires that the strata corporation obtain and maintain property insurance and liability insurance. This means all kinds of strata corporations must obtain insurance including bare land strata corporations (strata "subdivisions") and strata-titled duplexes. Our insurance is through CapriCMW.

Under the Strata Property Act, every strata corporation and section, must have a contingency reserve fund (CRF). The CRF helps to pay for expenses that occur less than once a year, or that do not usually occur. Examples of CRF expenses include: replacing the roof, upgrading the elevator or repaving a road. 

A detailed comparison, year over year of strata operational expenditures and revenues from strata fees, which includes the strata fees and the Predator Ridge Community Land Amenities (PRCLA) fees.