What Is a Form B in BC Real Estate?

If there's one document that every BC strata buyer must understand, it's the Form B. Officially called the Information Certificate, the Form B is a snapshot of the strata's current financial and legal status — as it applies to the specific unit you're buying.

It's the starting point of every strata due diligence review. Here's exactly what it contains, what it means, and — crucially — what it doesn't tell you.

What Is a Form B?

A Form B is a standardized disclosure document issued by the strata corporation under Section 59 of the BC Strata Property Act. It's signed by a member of the strata council or the strata manager and addressed to a specific buyer (or their agent) for a specific strata lot.

The seller is required to provide it as part of the strata document package. It typically costs between $35–$100 for the strata to prepare, and the seller pays that cost. Under the SPA, the strata must provide it within 7 days of a written request.

What the Form B Discloses

Monthly Strata Fees

The current monthly fee for the specific strata lot — both the operating fund contribution and the contingency reserve fund (CRF) contribution. This is what you'll pay every month as the new owner. Note: fees can change at the AGM when the budget is approved, typically in the spring.

Active Special Levies

Any special levy that has been approved by a 3/4 vote at a general meeting must be disclosed on the Form B. This includes the total amount of the levy, what it's for, and the amount unpaid for the specific unit. This is binding — as the buyer, you inherit any unpaid levy amount as of the completion date unless negotiated otherwise.

Bylaw Violation Notices Against the Unit

If the strata council has issued a bylaw violation notice against the specific unit (not just the owner — the unit itself), it must be disclosed. Common violations: unauthorized renovations, bylaw breaches regarding pets or noise, parking infractions. These notices travel with the unit.

Strata Liens

If the current owner owes money to the strata corporation — unpaid strata fees, fines, or special levy amounts — the strata can register a lien against the unit. Any existing liens will be disclosed. These must be paid off before or at completion (typically out of the seller's proceeds).

Rental Restriction Status

The Form B will confirm whether the strata has any bylaws restricting rentals. Following Bill 44 in 2022, most long-term rental restriction bylaws were eliminated. However, short-term rental (Airbnb) restrictions can still be in place, and the Form B will reference any applicable rental bylaws.

Current Reserve Fund Balance

The Form B includes the current balance of the contingency reserve fund as of the date of issue. This is one number — it doesn't tell you whether it's adequate. You need the depreciation report to assess that.

What the Form B Does NOT Tell You

This is where most buyers get tripped up. The Form B discloses what has been formally approved and documented. It does not disclose:

• Pending special levies that have been discussed but not yet voted on. A 3/4 vote at next month's SGM would create a levy obligation — but it won't appear on today's Form B.
• The building's maintenance history. Water damage, leaks, deferred repairs, neighbour disputes — none of this appears on the Form B. It's all in the meeting minutes.
• Whether the reserve fund is adequate. The balance is disclosed, but whether it's on track to cover the building's capital needs is something you can only assess by reading the depreciation report alongside it.
• Active litigation. Unless a lien has been registered or the litigation has resulted in a formal council resolution, litigation may not be reflected on the Form B. Meeting minutes typically reveal it first.
• Insurance deductibles. The Form B doesn't include the strata's earthquake, flood, or water damage deductibles. You need the insurance certificate for that.
• The content of the bylaws. The Form B may reference that rental restrictions exist, but you need the actual bylaw document to see the specifics.

How to Read the Form B

The Form B is a short document — typically 2–4 pages. Read it carefully and check these specific items:

1. Check the Date

The Form B is only valid as of its issue date. A Form B from 90 days ago doesn't reflect a levy that was approved 30 days ago. In a fast-moving market, request a current Form B — and confirm with your agent that you're working from the most recent one.

2. Read Every Special Levy Disclosure

If there's a special levy disclosed, find out: What is it for? How much has already been paid? What is the remaining balance for this unit? Is this a one-time levy or part of a multi-phase project? Are future phases planned?

3. Note Any Bylaw Violation Notices

A violation notice against the unit doesn't mean the previous owner was a bad neighbour — sometimes notices are issued for honest mistakes or past renovations that predate current ownership. But you want to understand what the notice is for, whether it's been resolved, and whether any fines are outstanding.

4. Compare the CRF Balance to the Depreciation Report

The Form B gives you the number. The depreciation report tells you whether it's enough. If the depreciation report projects the CRF needs $400,000 in year 3 and the current balance is $180,000, the gap is significant — regardless of how healthy the balance looks in isolation.

The Form B Is the Start, Not the End

Think of the Form B as the headline — it tells you the current official status of the unit. The full story is in the supporting documents: the meeting minutes (history of decisions and issues), the financial statements (how money has actually been spent), the depreciation report (what the future costs will be), and the bylaws (what you can and can't do).

Most buyers spend most of their due diligence time on the Form B because it's short and readable. The professional approach is to spend most of your time in the meeting minutes and depreciation report — that's where the real intelligence is.