Strata fees, bylaws, insurance, and special levies—most buyers don’t really understand them until something goes wrong. In this episode of The Real Estate of Things, Scott sits down with Cory Pettersen, president of Stratawest, to break down what strata management actually does and what condo owners should be paying attention to.

Cory shares how he found his way into the industry, why strata management is massively understaffed in BC, and what separates a well-run building from a stressful one. They dig into depreciation reports, strata fee red flags, amenities like pools and gyms, rising insurance costs, and the common issues that cause friction in buildings. This episode is a must-listen for anyone buying, selling, or living in a strata property—and for agents who want to better guide their clients.

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Chapters:

• (00:00) - Introduction
• (01:27) - How Cory Got Into Strata Management
• (05:42) - Education, Licensing & Entering the Industry
• (10:27) - What Strata Management Actually Does
• (13:42) - Common Issues: People, Pets & Parking
• (15:34) - Developers, New Builds & Existing Buildings
• (18:53) - Strata Fees, Depreciation Reports & Red Flags
• (23:06) - What Buyers Should Look for in Strata Documents
• (26:16) - Insurance Costs & How They Impact Owners
• (29:56) - What Makes a Well-Run Strata
• (38:12) - How to Find Cory & Stratawest
• (39:50) - Conclusion