Don’t take your Home for granted – Check your Policy today!

What to look for? Verify with your insurance broker that your current policy fully covers and protects you for your accommodations, improvements and betterments, entire contents, and includes both liability and strata deductible coverage. Check with your Strata Council for all of the important details.

The issue of insurance is commonly overlooked by those shopping for Strata homes, notably first-time buyers, as this group has often not bothered to purchase home insurance for their rental accommodations prior to embarking on this exciting, new real estate venture.

Regrettably, these same buyers seem to be under the mistaken impression that a Strata’s insurance coverage is sufficient for everyone, and everything. Sadly, that is quite simply not the case.

The Strata Council will typically advise all Owners of the Strata Corporation’s sewer back up and water damage deductibles, which are capped at a set rate, which may be as high as $50,000.

This coverage does not offer any protection for any personal property in your home, the replacement value of which quickly escalates for even the most modest of residences.

Please also note that any upgrades undertaken by the owner to flooring, cabinets, and other fixtures are not covered by the Strata’s insurance.

What will this mean for you as an Owner? It means that your Strata Corporation may choose to selectively only file claims with their insurers if the cost of repairs to water or sewer damages exceeds their cap.

It is important to note here that a strata’s insurance coverage basically ‘takes care of the structure itself’, period.

The Strata Corporation will be liable for damage or loss to common property. However, your Strata Council will, in all instances, reserve its right to pursue a strata lot owner for any costs incurred by the Strata Corporation to repair damage or loss to common property if the strata lot owner is responsible for or caused the water loss.

The Strata Corporation also has a bylaw to enable an insurance deductible paid by the Strata to be charged back to the strata lot responsible.

It is crucial that you ensure your home insurance policy has coverage up to the amounts expressed by your Strata Council.

Coronet Realty Ltd., is a Vancouver area real estate company specializing in residential property management, non-resident taxes and non-resident taxation, rent collection, rental management, and property management. We are located at 3582 East Hastings Street, Vancouver, BC, V5K 2A7. Prior to October 2009 our company name was Coronet Property Management Ltd., so if you’re looking for Coronet Property Management Ltd, you’ve found us). We are specialists in Vancouver property management

Stats are courtesy of the Real Estate Board of Greater Vancouver, and while all efforts are made to ensure their accuracy, the REBGV is in no way responsible for them. I take all responsibility for any errors.

Stats are courtesy of the Real Estate Board of Greater Vancouver, and while all efforts are made to ensure their accuracy, the REBGV is in no way responsible for them. I take all responsibility for any errors.

Last week in the REBGV we saw 574 new listings, 336 price changes and 540 sales for a sell/list of 94.08%.

In the FVREB it was a different story: 350 new listings, 174 price changes and 219 sales and a sell/list of 62.57%.

The combined numbers came out at 924 new listings, 510 price changes and 759 sales for a sell/list of 82.14%.

Detailed numbers are in the table below:

Stats are courtesy of the Real Estate Board of Greater Vancouver, and while all efforts are made to ensure their accuracy, the REBGV is in no way responsible for them. I take all responsibility for any errors.

Coronet Realty Ltd., is a Vancouver area real estate company specializing in residential property management, non-resident taxes and non-resident taxation, rent collection, rental management, and property management. We are located at 3582 East Hastings Street, Vancouver, BC, V5K 2A7. Prior to October 2009 our company name was Coronet Property Management Ltd., so if you’re looking for Coronet Property Management Ltd, you’ve found us).

There were 201 new listings yesterday, 90 price changes and 96 sales. The sell/list came in at 47.76%. That’s a big change from what we’ve seen earlier this week, which indicates how much fluctuation the can be from day to day. The weekly numbers will give a more stable picture. Now that we’re in December I’d expect to see a higher sell/list, but lower volumes (which is characteristic of the holiday season).

Stats are courtesy of the Real Estate Board of Greater Vancouver, and while all efforts are made to ensure their accuracy, the REBGV is in no way responsible for them. I take all responsibility for any errors.

Coronet Realty Ltd., is a Vancouver area real estate company specializing in residential property management, non-resident taxes and non-resident taxation, rent collection, rental management, and property management. We are located at 3582 East Hastings Street, Vancouver, BC, V5K 2A7. Prior to October 2009 our company name was Coronet Property Management Ltd., so if you’re looking for Coronet Property Management Ltd, you’ve found us).

Stats are courtesy of the Real Estate Board of Greater Vancouver, and while all efforts are made to ensure their accuracy, the REBGV is in no way responsible for them. I take all responsibility for any errors.

The market is very hot right now.

Stats are courtesy of the Real Estate Board of Greater Vancouver, and while all efforts are made to ensure their accuracy, the REBGV is in no way responsible for them. I take all responsibility for any errors.

Stats are courtesy of the Real Estate Board of Greater Vancouver, and while all efforts are made to ensure their accuracy, the REBGV is in no way responsible for them. I take all responsibility for any errors.

come to my site for Vancouver real estate stats.

Coronet Realty Ltd., is a Vancouver area real estate company specializing in residential property management, non-resident taxes and non-resident taxation, rent collection, rental management, and property management. We are located at 3582 East Hastings Street, Vancouver, BC, V5K 2A7. Prior to October 2009 our company name was Coronet Property Management Ltd., so if you’re looking for Coronet Property Management Ltd, you’ve found us).