Can a strata corporation use a caretaker suite as collateral for a mortgage?

Yes, with ¾ vote approval as long as the caretaker suite is a common asset owned by the strata corporation.
Pursuant to section 79 of the Strata Property Act, SBC 1998, c.43, a strata corporation must obtain ¾ vote approval of the owners before granting a mortgage and the documents executed by the strata corporation granting the mortgage must conform to the enabling resolution.

Note that a strata corporation is prohibited from granting a mortgage over a caretaker suite if it is designated as common property in the registered strata plan.



Oscar Miklos
Oscar Miklos is the founder and principal lawyer at Refresh Law in Burnaby and the founder of He regularly advises residential and commercial landlords and tenants, strata owners, strata corporations, property managers and insurance providers in all aspects of housing disputes.