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A Strata Corporation is created to divide a building(s) or a parcel of land into separate
components individually owned (strata lots) and common components (common property and common assets) owned by all the owners. The owners of the strata lots are the members of the Strata Corporation.
There are 400 strata lots in The Strata. Each year at the Annual General Meeting, a Strata Council of between 8 and 12 owners are elected to manage the strata corporation within the restrictions of the Strata Property Act and Regulations, and the Strata Corporation’s bylaws and rules. In addition the Strata Council is responsible for the enforcement of the bylaws and rules and can levy fines if a bylaw has been breached.
The Strata Council has engaged a licensed strata property manager to assist with the day-to-day management and administration of The Strata.
The Strata has common property, which is the land that is inside the Strata Corporation boundaries but is not a strata lot. That includes roads, watercourses, foreshore etc. It is land for all owners to enjoy and cannot be altered without prior written approval from the Strata Council.
The Strata has a common asset, Horne Lake Resort Corp that owns 3200 acres of adjacent lands that is a Private Managed Forest. This is for all owners to enjoy and cannot be altered without prior written consent from the Strata Council. The Strata has a very active forestry and silviculture program including mapping, planting, thinning and pruning and interface fire prevention with the goals of sustainable harvesting in the future while retaining the wilderness environment in which our community resides.
A strata lot has a 1/400th indivisible interest in the common property and the common asset. The Strata budget is adopted at the AGM and by line item identifies maintenance costs of the common asset and common property that are funded by the strata fees you pay.
