Tip 2: What is 2-5-10 Warranty Coverage Anyway?
2-5-10 Year Warranties
protect home owners from a range of construction defects, related to materials and labour, for very specific, designated periods of time:
2 Years – Construction Defects in Materials and Labour. (Including the electrical, plumbing, heating, ventilation and air conditioning delivery systems.)
This coverage applies specifically to any defect, further, as follows:
12 Months –
– inside and out – and Strata Unit Interior Areas
15 Months – Strata Common Areas
Warranty Coverage then dwindles to just 5 and 10 year coverage.
5 Years – Building Envelope Defects
(Water Leakage / Basement / Foundation, Roof, Exterior Walls, Windows and Doors)
– Major Structural Defects
Many newer strata corporations in the lower mainland are nearing their 15-month (common area) deadline and /or their 5-year (building envelope) deadline and don’t even realize it. They will need to take immediate action to ensure all required repairs are adequately documented, to report it to the proper authorities before the builder’s obligation expires for good. If they delay, they will have to pay to repair construction defects out of their own pockets.
Duxbury & Associates are the Only Strata Specialists in the Lower Mainland. We are
the go-to company for the inspection of condos, townhouses and all low rise wood-frame buildings. We ensure that our clients are made aware of their home warranty expiry dates. You
deserve financial security, peace of mind and no financial surprises.
until your Home Warranty Insurance Expires and is gone forever!