What Are Property Ownership Types in BC?
In British Columbia, property ownership in strata developments (including condos, townhomes, and masterplan communities) is divided into three types: common property (shared by all owners), limited common property (shared but designated for specific units), and private property (individually owned strata lots). Understanding these distinctions is critical for buyers, owners, and investors because it affects rights, responsibilities, and costs.
These various types of ownership are governed under the Strata Property Act, which outlines how strata corporations operate.
Visual Guide: Property Ownership Types in BC
1. Common Property in BC
What Is Common Property?
Common property refers to areas that are shared by all owners in a strata development.
Examples of Common Property:
Hallways
Elevators
Lobbies
Roofs
Exterior walls
Parking garages (in some cases)
Key Features:
Owned collectively by all strata owners
Managed by the strata corporation
Maintenance costs are shared by all through strata fees
Why It Matters:
If repairs are needed (e.g., roof replacement), all owners contribute financially, even if they don’t directly use the space.
2. Limited Common Property (LCP)
What Is Limited Common Property?
Limited Common Property (LCP) is shared property that is designated for the exclusive use of one or more specific strata lots.
Common Examples:
Balconies
Patios
Assigned parking stalls
Storage lockers
Key Features:
Not owned individually, but usage is restricted
Designated in the strata plan or bylaws
Maintenance responsibilities can vary
Maintenance Rules:
The strata may be responsible for structural repairs
The owner may be responsible for day-to-day upkeep
3. Private Property (Strata Lot)
What Is Private Property?
Private property—also called a strata lot—is the portion of the property that you fully own.
Examples:
Interior of your condo unit
Interior walls
Flooring and fixtures
Key Features:
Owned individually
Owner is responsible for maintenance and repairs
Subject to strata bylaws and rules
Important Note:
Even though you privately own your unit, you must still follow strata bylaws (e.g., bylaws pertaining to renovations, noise rules, or pet ownership).
Why Property Type Matters When Buying
Understanding property types helps you avoid costly surprises.
1. Maintenance Costs
Common property = shared expenses
LCP = mixed responsibility
Private = owner pays
2. Usage Rights
Not all “exclusive” spaces are truly owned
3. Resale Value
Well-maintained common areas increase property value
Common Mistakes Buyers Make
❌ Assuming a balcony is privately owned
Many buyers don’t realize balconies are often limited common property
❌ Not reviewing strata documents
Important details such as the ownership of parking stalls or storage lockers can be found in the strata plan and strata Form B
❌ Ignoring maintenance obligations
Unexpected costs can arise if responsibilities are unclear
FAQ
What is common property in BC?
Common property includes shared areas in a strata development, such as hallways, roofs, and elevators, owned collectively by all strata owners.
What is limited common property?
Limited common property is shared property designated for the exclusive use of specific units, such as balconies, parking stalls, or storage lockers.
What is private property in a strata?
Private property, or a strata lot, is the individually owned portion of a unit, including the interior living space.
Who is responsible for repairs in strata properties?
Responsibility depends on the property type: strata corporations handle common property, owners handle private property, and limited common property responsibilities vary.
Final Thoughts: Know What You Own
In British Columbia, understanding the difference between common property, limited common property, and private property is essential when buying into a strata.
It affects:
Your costs
Your responsibilities
Your rights as an owner
Before purchasing, always:
Review the strata plan
Read bylaws carefully
Ask questions about maintenance responsibilities
Keywords:
property ownership types BC
common property vs limited common property
strata property BC explained
what is limited common property BC
strata lot definition Canada