Buyer Reference
Multiplex Glossary
Every term you will encounter when buying a duplex, triplex, or fourplex in BC, explained in plain language.
Ownership
- Strata
- A form of ownership in BC where you own your individual unit, and a strata corporation (all owners together) owns the common areas. Each owner pays monthly strata fees to maintain those shared spaces. Most multiplexes in BC are strata-titled, meaning each unit has its own title and can be bought and sold separately.Complete Strata Guide →
- Bare-Land Strata
- A type of strata where each owner's title covers their specific portion of the land, plus the building sitting on it. More common for duplexes and townhouses than for condos. In a bare-land strata, the building sits on your own strata lot, so its roof, walls and windows are part of your lot, and the strata's bylaws set who repairs them. Read the bylaws before you buy.Strata Ownership Guide →
- Freehold
- Outright ownership of both the land and the building on it, with no strata corporation. You own everything and are responsible for everything. Some older duplexes in Vancouver are freehold (one owner holds title to the whole building). Most new multiplexes are strata-titled so each unit can be sold separately.
- Co-ownership
- Owning a property jointly with another person, often a family member, without a strata structure. Common when two families pool money to buy one building together. Requires a co-ownership agreement drafted by a lawyer that covers how costs are split, what happens if one party wants to sell, and how decisions about the building are made.Family Co-Purchase Guide →
- Title
- The legal document that says who owns a property. In a strata multiplex, each unit has its own title. In a freehold duplex, one title covers the whole building. Your lawyer registers the new title in your name when you complete the purchase. Always have your lawyer do a title search before completing to check for liens or encumbrances.
- Tenants in Common
- A way for two or more people to co-own a property where each person owns a specified share (e.g., 50/50 or 60/40). When one owner dies, their share goes to their estate, and the surviving owner does not receive it automatically. Useful for family purchases where each party wants their share to remain their own.
- Joint Tenancy
- A way for two or more people to co-own a property with equal shares and a right of survivorship. When one owner dies, their share transfers automatically to the remaining owners. Common for married couples but may not be the right structure for family co-purchases with parents and adult children.
Strata & Building
- Strata Fees
- Monthly payments each owner makes to the strata corporation. These cover the ongoing costs of maintaining common areas (driveways, shared roofs, exterior walls), building insurance, and contributions to the contingency reserve fund. The owners approve the yearly budget that sets the fees by majority vote at the annual general meeting. Our strata fees guide counts the fees stated on multiplex homes for sale today.Strata Fees Guide →
- Contingency Reserve Fund
- Money that strata owners set aside together for future major repairs, such as a new roof, foundation work or a new shared driveway. Since November 1, 2023, BC requires every strata to put at least 10% of its yearly operating budget into this fund. For a two-unit duplex, this fund grows slowly because there are only two contributors. Check the Form B to see the current balance before you buy.Depreciation Reports Explained →
- Depreciation Report
- A professional study that estimates the lifespan and replacement cost of every major part of a strata building: roof, windows, plumbing, electrical and outside walls. Since July 1, 2024, a strata with 5 or more lots must get one every 5 years. A strata of 4 or fewer lots, such as a duplex, triplex or fourplex, is exempt. If the report does not exist or is outdated, you are buying with less information about future costs.Depreciation Reports Guide →
- Special Levy
- A one-time charge to all strata owners for an unexpected repair or improvement that the contingency reserve fund cannot cover. For example, a $40,000 roof repair in a 4-unit strata where each home has an equal share means each owner pays $10,000. A special levy needs a three-quarter vote at a general meeting, and owners get at least 2 weeks' written notice of the meeting. A well-funded contingency reserve and a current depreciation report reduce the risk.Special Levies Explained →
- Form B
- An information certificate that every strata corporation must provide to an owner, a buyer, or a person they authorize within one week of a request (Strata Property Act, section 59). It states the monthly strata fees, any outstanding levies, the contingency reserve fund balance, and whether the current owner owes any unpaid fees. Always request a Form B before making an offer on a strata property. The fee is capped at $35 plus up to $0.25 per page.
- Strata Bylaws
- Rules that govern how owners can use their units and common areas. Bylaws can cover things like whether you can rent your unit, whether pets are allowed, what renovations require strata approval, and parking rules. For multiplexes, bylaws tend to be simpler and less restrictive than for large condo towers because there are fewer owners to coordinate.Strata Bylaws for Multiplexes →
Buying Process
- REDMA
- The Real Estate Development Marketing Act, the BC law that governs how developers can market and sell new homes before they are built (pre-sales). REDMA requires developers to file a disclosure statement and gives buyers a 7-day right of rescission (the right to cancel for any reason within 7 days of signing). Important: the Act covers a strata development of 5 or more lots (section 1), so a duplex, triplex or fourplex of 4 or fewer strata homes is outside it.Pre-Sale Checklist →
- Right of Rescission
- Your right to cancel a pre-sale contract within 7 days of signing, for any reason, and receive your deposit back. This applies when REDMA governs the purchase (strata developments of 5 or more lots). For a duplex, triplex or fourplex sold as 4 or fewer strata homes, the Home Buyer Rescission Period in section 42 of the Property Law Act applies instead: 3 business days after the acceptance of your offer is signed, at a cost of 0.25% of the price.
- Disclosure Statement
- A document required by REDMA, for a building of 5 or more strata lots, that developers must provide to buyers before they sign a pre-sale contract. It outlines the project details: unit count, completion timeline, permitted uses, deposit terms, strata management, and other material facts. You must receive and acknowledge the disclosure statement before your purchase contract is binding.
- Subject Conditions (Subjects)
- Conditions you add to your purchase offer that must be satisfied before the deal becomes firm. Common subjects include: subject to financing, subject to satisfactory home inspection, and subject to review of strata documents. You agree on a set number of days to complete your due diligence and either remove the subjects (confirming the deal is firm) or cancel without penalty.
- Completion Date
- The date when legal ownership transfers and you pay the balance of the purchase price. Your lawyer handles the transfer of funds and title. For pre-sale properties, the completion date can be years after you signed the purchase contract.
- Possession Date
- The date when you receive the keys and can move in. Usually the same as the completion date, but occasionally a day or two after for administrative reasons. Confirm with your realtor and lawyer.
Zoning & Policy
- SSMUH
- Small-Scale Multi-Unit Housing: the provincial policy (enabled by Bill 44, passed November 2023) requiring BC municipalities to allow at least 3 homes on single-family lots of 280 square metres or less, and at least 4 on larger lots, with some exemptions. SSMUH is the reason new duplexes, triplexes, and fourplexes are appearing in residential neighbourhoods across BC.
- Bill 44
- The BC provincial housing legislation passed in November 2023 that requires municipalities to allow small-scale multi-unit housing (SSMUH) on single-family lots. It is the primary reason new multiplexes can now be built in most residential neighbourhoods across BC. Vancouver put its own multiplex rules in place through its R1-1 zone.Bill 44 Explained for Buyers →
- R1-1 Zone (Vancouver)
- Vancouver's residential zone for lots that once held one house. It allows multiplex homes, and how many homes a lot can hold depends on its size. This is why you are seeing new multiplex buildings in previously single-family neighbourhoods across the city.
- FSR (Floor Space Ratio)
- A measure of how much total floor space can be built on a given lot, expressed as a ratio of building floor area to lot area. FSR of 1.0 on a 5,000 sqft lot means you can build 5,000 sqft of floor space. Higher FSR allows more square footage.
Financing
- CMHC Insurance
- Mortgage default insurance you need when your down payment is less than 20%. CMHC (Canada Mortgage and Housing Corporation) insures the lender if you default. Owner-occupied homes of 1 to 4 units priced below $1,500,000 qualify: 5% down on the first $500,000 plus 10% on the rest for a single unit or a duplex, and 10% down for a whole triplex or fourplex. CMHC's premium runs from 2.80% to 4.00% of the loan when you borrow more than 80% of the price, and it is added to your mortgage.Financing Guide for Multiplexes →
- Property Transfer Tax (PTT)
- A BC provincial tax payable when you acquire a property. The rate is 1% on the first $200,000, 2% on the portion from $200,000 to $2,000,000, and 3% above $2,000,000, plus a further 2% on a home's value above $3,000,000. The first time home buyers' exemption removes the tax on the first $500,000 when the home is worth $835,000 or less, with a partial exemption up to $860,000. The Newly Built Home Exemption removes it on a new home worth up to $1,100,000, with a partial exemption up to $1,150,000. Ask your lawyer about your own situation.Financing and Tax Guide →
- GST New Housing Rebate
- A federal rebate that reduces the GST payable on a newly built home. For a first-time buyer, the first-time home buyers' GST/HST rebate returns up to $50,000 of the GST on a new home priced at or below $1 million, gets smaller between $1 million and $1.5 million, and is gone at $1.5 million, according to the Canada Revenue Agency. The rebates apply to new homes only.Financing and Rebates Guide →
- Rental Income Qualification
- When you buy a whole multiplex building and live in one unit, a lender can count rent from the other units to help you qualify for a mortgage. Under CMHC's rules, a lender can count up to 100% of the rent on a 2-unit building, and up to 50% of the rent (or a net rent method) on a 3 or 4 unit building. This applies to buying the whole building. Buying one strata home in a multiplex uses the normal rules.Financing Your Multiplex →
Dig Deeper
Now that the vocabulary makes sense, these guides walk you through the actual buying process step by step.
Step-by-Step Buying GuideHow to buy a multiplex in BC from search to keysStrata Ownership GuideEverything about owning in a small BC strataFinancing Your MultiplexMortgages, CMHC, PTT, and rental income qualificationPre-Sale ChecklistWhat to check before signing a pre-sale contractMultiplex Prices VancouverCurrent price ranges by type and neighbourhoodBrowse Vancouver ListingsCurrent duplexes, triplexes, and fourplexes for sale