Your building may be worth more sold together than unit by unit.
We help BC strata owners and councils find out what their whole building is worth to a developer, and guide everyone through the 80% vote and court approval process.
Get a free building valueDownload the wind-up guideWhen a building is worth more as land
Many older low-rise and townhouse complexes now sit on land that has been rezoned or is near transit. A developer may pay well above what each owner could get selling on their own.
A premium over individual sales
When a site is worth more for redevelopment, the whole building can sell for more than the units would separately. Each owner shares in the proceeds.
Avoid big repair bills
Aging buildings face roofs, envelopes, plumbing and elevators. A wind-up can be an alternative to large special levies on a building near the end of its life.
New zoning, new value
Transit-oriented areas and new provincial and municipal housing rules have made many older strata sites far more valuable to builders.
The BC strata wind-up process, step by step
Since July 2016, BC strata owners can wind up their strata corporation with an 80% vote of all owners instead of a unanimous vote. There are still strict rules, and the court oversees the process to protect every owner.
This is a general overview, not legal advice. Every wind-up needs a lawyer experienced in strata law.
Owners explore the idea
Council or a group of owners gauges interest through a town hall or poll and gets an opinion of the building's value as a whole.
Hire a realtor and a lawyer
The strata engages an agent to market the site and a lawyer to manage the legal process. BC courts have confirmed council can do this without first holding the 80% vote.
Market the building and get offers
The site is marketed to developers. The strata can sign a sale agreement that is conditional on the wind-up vote and court approval.
The 80% vote
At a special general meeting, at least 80% of all eligible owners (not just those present) must approve the winding-up resolution and the liquidator.
Court confirmation
In most cases the BC Supreme Court must confirm the resolution. The court looks at fairness and the best interests of the owners, and any owner who disagrees can be heard.
Sale closes, owners are paid
A court-approved liquidator completes the sale, pays the strata's debts and distributes the proceeds to owners based on the agreed schedule.
Free guide: Strata Wind-Up in BC
A plain-English walkthrough of the process, the vote, the court, timelines and the questions to ask before your building goes to market.
Strata wind-up specialists
We put people first. A wind-up affects homes, families and long-time neighbours, so we take the time to explain every step and keep every owner informed.
Common questions about strata wind-ups
How many owners need to agree?
At least 80% of all eligible voters must vote in favour of the winding-up resolution. It is 80% of all owners, not 80% of the owners who attend the meeting. Before July 2016, a unanimous vote was required.
Does the court have to approve it?
In most wind-ups with a liquidator, yes. The strata applies to the BC Supreme Court to confirm the resolution. The court considers whether the process was fair and in the best interests of the owners, and owners who oppose can be heard.
How long does a strata wind-up take?
Typically one to two years from the first owner discussions to closing, depending on how quickly the building reaches 80% support, the buyer's conditions, and whether the court application is contested.
What happens to owners who vote no?
If the resolution passes and the court confirms it, all owners are bound, including those who voted against it. Dissenting owners can raise their concerns at the court hearing, and the court reviews fairness before confirming.
How is the money divided between owners?
The winding-up resolution must include a schedule setting out each owner's share of the proceeds. Courts have rejected resolutions that left out required details like this, which is why an experienced lawyer is essential.
Can I still sell my own unit while this is happening?
Yes. A wind-up process does not stop an owner from selling their unit individually, though buyers will want to know where the process stands.
Do we need an 80% vote before hiring a realtor?
No. The BC Court of Appeal has confirmed that a strata council can engage a brokerage and market the property before the winding-up vote, and can sign a sale contract that is conditional on the vote and court approval.
Who pays for the process?
Costs such as legal, appraisal and liquidator fees are usually built into the deal. How they are handled depends on the agreement with the buyer, so ask early.
General information only, not legal advice. Sources: BC Government, Termination (winding up) a strata corporation; Strata Property Act, Part 16; Buckerfield v. Strata Plan VR 92, 2019 BCCA 196.
Find out what your building is worth
Tell us a little about your building and we'll give you a no-obligation opinion of its value as a whole, plus an honest read on whether a wind-up makes sense.
Office: 604.492.5000
Address: 1126 Austin Avenue, Coquitlam, BC V3K 3P5