Office  590 – 8040 Fax  727 -0193
#114 – 1537 Hillside Avenue,
Victoria B.C. V8T 2C1
Real Estate Appraisers & Consultants*
Phung Horwood is a Victoria based appraisal and Depreciation Report provider that services Greater Victoria and Lower Vancouver Island. Whether you require an appraisal, a Depreciation Report or consulting services, our team is ready to assist you in a timely, professional manner. Protect your asset(s) by securing one of our knowledgeable local appraisers or Reserve Fund professionals today.
While many Strata Corporations have now obtained their initial or second Depreciation Report, others continue to waive the requirement by way of a 3/4 (75%) vote.
As Depreciation Reports become more and more prevalent within the Greater Victoria Real Estate Market, Strata Corporations are becoming more aware of their value as a tool to help ensure the long term health of their asset. With some time having past since the implementation of the legislation in December 2011, all affected Stratas have had more time to review and analyze the implications of the new requirement. Additionally, with a greater number of reports in existence and available to prospective owners, Strata Corporations are able to make a more informed decision as to a service provider and the differing approaches to Depreciation Reports. As the second and third cycles continue, those that have previously waived the Depreciation Report may now wish to have a report prepared on their behalf by a qualified professional.