‘Special levy tsunami’: Ridge Meadows stratas wildly underfunded: report

A new report is sounding the alarm for B.C. strata councils, saying that their budgets are wildly underfunded compared with other provinces and vulnerable for rainy days.

OctoAI released its 2026 Canadian Condo Review, an analysis of over 10,000 condo corporations across the country.

“We like to think of condo data as the financial vital signs of a building, and right now, some regions are looking a little pale,” says Thomas Beattie, CEO of OctoAI. “Our latest review shows that while nobody likes paying higher monthly fees, the alternative is much worse.”

Key Findings for 2026:
The Ontario Premium: Ontario condo budgets are nearly 40 per cent higher per unit than those in B.C. and Alberta. “This isn’t just inflation; it’s preparation,” said a report synopsis. Ontario owners contribute two to three times more to their reserve funds annually than Alberta and B.C. respectively, resulting in an average reserve balance of ~$10,000 per unit, compared to just ~$4,000 in B,C.
B.C.’s “Special Levy” Tsunami: The low strata-fee culture in B.C. has a price tag. OctoAI data projects that in 2026, over 100,000 B.C. owners may receive a special levy averaging more than $8,000 per unit.
The Funding Gap: More than three-quarters of B.C. strata corporations are considered “poorly funded” (less than 80 per cent funded including future expected contributions), with over half sitting in “critical” territory with under 50 per cent of future capital requirements funded.
Insurance Reality Check: B.C. continues to pay the highest insurance premiums in the country. One factor is earthquake risk, but premiums in B.C. are averaged ~$1,250 per unit in 2025, compared to just ~$425 in Ontario.
Education is a continuing theme, with B.C. Real Estate Association advocating for mandatory education in B.C. similar to what is required in Ontario. Despite regional considerations, better-informed decision makers lead to better outcomes for all owners.

The “Pay Me Now or Pay Me Later” Dilemma
The report highlights a critical cultural difference in how provinces manage aging infrastructure.
“In Ontario, the regulations force owners to contribute to replacement of shared assets as their useful life is enjoyed; you pay higher fees today to replace the roof tomorrow,” Beattie adds. “In B.C., we’ve historically been allowed to skip proactive savings and pass the buck to the next guy, but beyond that not being right, the bills are coming due. With new depreciation report requirements coming into effect for Metro Vancouver and other regions by July 2026, and the rest of the province by July 2027, many buildings are about to get an unwelcome reality check.”

A Note for Real Estate Professionals
For Realtors and industry pros, the 2026 Condo Review serves as a reminder that the “cheapest” condo fee is often a red flag, and that what you don’t see might impact your clients.