Episode 29: Unwinding the mystery behind strata windups

About the Episode:

Brent and James welcome Paul Mendes from Lesperance Mendes to shed light on the topic of strata windups. In this episode, owners will gain valuable insights into what they need to know about strata windups, discover common mistakes to avoid, and learn about the key steps involved in the process. With expert guidance and practical advice, this episode equips owners with the knowledge to navigate strata windups successfully and make informed decisions for their properties.

 

Get the Guides:

3 Keys to Decision Making for Strata Councils

Maintenance Planner Checklist

8 Steps for Going out to Bid

About the Guest:

Paul Mendes

Partner, Lesperance Mendes

Paul is the chairperson of the firm’s condominium law group. He regularly advises strata corporations, strata owners and property managers on a broad range of condominium law issues. Paul is also a member of the firm’s construction defect litigation group and has represented strata corporations and owners in numerous cost recovery actions.

Paul has successfully represented clients before the British Columbia Supreme Court, British Columbia Court of Appeal and Federal Court of Canada. Paul is a member of the Canadian Bar Association, the Condominium Homeowners’ Association of British Columbia (CHOA), the Professional Association of Managing Agents (PAMA) and the Strata Property Agents of British Columbia (SPABC). He is a frequent guest speaker on condominium law and governance.

Paul was an instructor in Real Estate Law in the Department of Continuing Studies at Vancouver Community College (Langara). He is also on the editorial board and is a contributing author to Strata Property Law Practice Manual, published by the Continuing Legal Education Society of British Columbia.

Prior to joining Lesperance Mendes, Paul was a senior manager to the high-tech sector with an emphasis on software development and e-commerce.

About the Hosts:

Brent Anderson

Business Development Director, FirstService Residential British Columbia

As Business Development Director, Brent is responsible for the continued growth and strategy of FirstService Residential’s Market throughout British Columbia. 


Brent’s professional career in sales began selling souvenirs at Canucks games back at the PNE Coliseum. For the past 15 years, has been closely working with strata managers as a salesperson for various trades, including painting, high-rise window cleaning, and HVAC services.

The sales world is full of cookie-cutter reps who lead with their ego and put their needs ahead of the customers. Not Brent; he is passionate about the needs and goals of his clients and specializes in bringing them peace of mind. 
  
Brent lives in South Surrey with his wife and their Jack Russell Terrier. He is an avid hiker and budding kayak enthusiast. 

James Milne

Business Development Director, FirstService Residential British Columbia

As Business Development Director, James is responsible for the continued growth and strategy of FirstService Residential’s Market throughout British Columbia. 

James takes a consultative approach to his role, recognizing that having the right fit between a community and its management is crucial to long-term success. Prior to joining FirstService, James worked in luxury hotel management and business-to-business sales. 

James has more than 20 years of experience in customer-facing roles and a true passion for customer service. He is a licensed strata manager and has a degree in Business Management. 

When not working, James is also an avid mountain biker and serves as the President of one of BC’s largest non-profit mountain bike clubs.

 

About Stratagize Podcast

Over 1.5 million people live in strata housing in the Province of British Columbia.

Let's face it, you'd rather watch reruns of the nightly news than read the Strata Property Act (And we can't blame you) Still, most people are at a loss when it comes to understanding such an important framework for how many of us live our lives in proximity with one another.

🎙 Stratagize with Brent Anderson & James Milne features conversations with industry leaders and experts who share their knowledge to demystify an industry that impacts the lives of more than 1 out of 3 British Columbians.

Whether you are a council member, owner, investor, or renter, if you're looking for content that will bring value to your strata and help you get to the next level… THIS is it!

Listen to our latest episode, subscribe and rate us on iTunes. 👊

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🚨 STRATA TIP:
The number one mistake councils make with windups is they don’t communicate enough with the owners. Ensure your process provides owners with all the information required. Consider holding townhall meetings.
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MAIN TAKEAWAYS:
🛠 Windups are the voluntary termination of the strata corporation. The process requires an 80% vote of all owners.
 
 
🛠 Developers recognize prime targets are stratas with bad depreciation reports which drives prices lower.
 
 
🛠  Most strata windups fail at the 80% vote

 
🦄 MYTH VS FACT
A windup is forced onto strata owners. They won’t have a say in the process.
 
(Myth)
 
Owners have quite a bit of influence at SGM. Owners can lobby other owners, get proxies, drum up opposition.