Planning for major repairs and maintenance such as painting or roof replacement is important when you’re a homeowner.

When you own a condo, though, it’s absolutely vital.

“These repairs can amount to very large levies for individual owners if they are not budgeted for,” said Tony Davis, president of the Vancouver Island Strata Owners Association.

That’s why the non–profit Vancouver Island Strata Owners Association is hosting a seminar Nov. 22 explaining how a depreciation plan can help condo residents in Victoria prepare for major repairs.

Proposed amendments to the B.C. Strata Protection Act – legislation that affects some 67,000 Vancouver Island properties -- include provisions for condos to produce depreciation reports.  These reports, sometimes called reserve fund studies, are the tool for planning major repairs.

“Nobody likes unpleasant financial surprises and having to replace a roof on your condo can be just that,” Davis said.

The seminar will feature expert Rudy Wouts, who has extensive experience in managing and teaching in the field of reserve plan studies.

It runs from 1 to 4 p.m. at Trafalgar/Pro-Patria Legion, 411 Gorge Rd., in Victoria, and includes time for questions and networking. Registration begins at 12:30 p.m.

There is no charge for VISOA members; non – members pay $20. Memberships will be available at the door.

For more details call toll-free 1-877-338-4762 or email info@visoa.bc.ca or membership@visoa.bc.ca

VISOA is a non-profit organization committed to helping people enjoy strata life. It provides support to more than 500 members representing more than 7,000 units on Vancouver Island, from Sooke to Port Alice. Its mandate is to assist, educate and train strata owners, councils and corporations.

For more information visit the association’s Website at www.visoa.bc.ca.