For strata councils & property managers
Elevator Condition Assessments for Depreciation Report Planning
Your depreciation report covers the whole building: roof, windows, mechanical, envelope, plumbing and elevators. The elevator line is usually a broad estimate.
Send us the report. We'll review the elevator portion and quote a detailed Elevator Condition Assessment and Planning Report, so the numbers your strata plans around are specific to your equipment.
Why the elevator line needs a closer look
Elevators are one of the largest costs your reserve fund has to cover
A depreciation report has to cover dozens of building components, so each one gets a general estimate. Elevators are harder to estimate than most. Two elevators of the same age can be years apart in condition, depending on how they have been maintained and whether parts are still made for them.
If the timing or the cost of a modernization is off, the funding plan built on it is off too. Our assessment looks only at the elevators and gives you numbers to plan with.
What the planning report covers
Specific to your elevators
Condition
The state of the controller, machine, hoistway equipment, doors and car, from an on-site review.
Remaining life
A component-by-component estimate of how long each part can reasonably keep running.
Obsolescence & parts
Whether replacement parts are still available, and how that affects repair times and modernization timing.
Maintenance
How well the equipment is being maintained, and whether the maintenance contract fits the building.
Modernization timing
When a modernization makes sense, and what can reasonably wait.
Capital budget
Realistic costs for the work ahead, laid out for your planning and funding discussions.
The rules in brief
BC depreciation reports since 2024
- Strata corporations with five or more lots must get a depreciation report at least every five years.
- Since July 1, 2024, owners can no longer vote to waive the requirement.
- Reports look ahead 30 years and include funding models for the reserve fund.
- In Alberta, condominium corporations must update a reserve fund study at least every five years.
Sources: Province of British Columbia, strata legislation changes · Government of Alberta, reserve funds. This is a summary, not legal advice.
ESI does not prepare depreciation reports or reserve fund studies. Those cover the whole building and are prepared by qualified providers. We do the detailed elevator work that sits alongside them.
Request a quote
Send us your depreciation report
Tell us about the building and attach the report if you have it. Our team will review the elevator portion and get back to you with a quote.
Questions
Common questions
Do you prepare depreciation reports?
No. A depreciation report covers the whole building, including the roof, windows, mechanical systems, building envelope, plumbing and elevators, and is prepared by a qualified depreciation report provider. Our work is the elevator part, in much more detail.
When should we get an elevator condition assessment?
Good times are when your depreciation report has just come back, when the report shows a large elevator expense in the next few years, or when the elevators are breaking down more often than they used to.
How often do BC strata corporations need a depreciation report?
Strata corporations with five or more strata lots must get a depreciation report at least every five years. Since July 1, 2024, the requirement can no longer be waived by a vote of the owners.
What should we send you?
The completed depreciation report, the building address, the number of elevators, and your current maintenance contract if you have it handy.
Do you work with strata buildings outside Vancouver?
Yes. Most of our work is in the Lower Mainland, and we also work on Vancouver Island, in the Interior, in Northern BC and in Alberta, depending on the project.
Do you work with condominiums in Alberta?
Yes. In Alberta the equivalent document is a reserve fund study, which condominium corporations must update at least every five years. The same elevator assessment applies.
Next step
Send us your depreciation report.
Attach it to your request or email it to us. We'll review the elevator portion and send you a quote for a detailed planning report.