TYPES OF WHISTLER OWNERSHIP

In Whistler you'll find an array of ownership opportunities that just don't exist in other markets. Here is a brief description:

CHALETS:

When purchasing a chalet you are purchasing the house as well as the land the house sits on. This type of ownership is found in most urban residential neighbourhoods around the world. The term "Chalet" really means house and as we are in a ski resort, the homes are deemed to be "ski chalets", hence the name. While most chalets are zoned residential there are a few areas where chalets are zoned for nightly rentals.

CONDOMINIUMS AND TOWNHOMES - STRATA PROPERTIES:

When you purchase a condo or a townhome you are purchasing an attached structure. This type of ownership is what is known as a "Strata". There are specific rules and legislation that have been created to govern this type of ownership and it is often preferred by property owners who can only use their property on an occasional basis.

Strata Corporation—the legal entity of which you as an owner are a member. The strata corporation represents and controls the entire condo/townhome development and the common property surrounding the development. As a strata lot owner, you have an interest in the common property.

Strata lot—refers to the individual townhome or condominium property. It is an attached structure with common partition walls, and common land that the property sits on.

Common Property—all the property in the strata development that is not in any strata lot, i.e., the open space around the building, the hallways, swimming pools, etc.

Strata fee—a monthly maintenance fee paid by owners to cover maintenance costs relating to the common areas, the exterior of the building, landscaping, snow removal, etc.

Strata Council—a group of owners appointed by the strata lot owners to conduct the Corporation's business.

British Columbia Strata Property Act—legislation that sets out specific rules and legislation created to govern strata ownership. Strata ownership involves an element of communal ownership and living, which means your rights as an owner differ from those as an owner of a single detached house.

Contingency reserve fund—a portion of money collected as part of the monthly strata fee set aside to cover extraordinary and emergency expenditures, i.e., long-term building maintenance such as roof replacement, painting, etc.

Back to the Top