Buyer Reference
Multiplex Glossary
Every term you will encounter when buying a duplex, triplex, or fourplex in BC — explained in plain language, not legal boilerplate.
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, you are typically responsible for maintaining the exterior of your own unit — the roof, walls, and windows on your half — rather than the strata corporation doing it for you.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 — not automatically to the surviving owner. 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. For a duplex, strata fees are typically $50–$150/month — much lower than a condo building because the shared infrastructure is simpler.Strata Fees Guide →
- Contingency Reserve Fund
- Money that strata owners set aside collectively for future major repairs — a new roof, foundation work, shared driveway resurfacing. BC law requires strata corporations to fund this reserve. 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
- An engineering assessment that estimates the lifespan and replacement cost of every major component of a strata building — roof, windows, plumbing, electrical, exterior cladding. Strata corporations with more than 4 units are required to commission one every 5 years. For duplexes (2-unit stratas), it is optional. 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 means each owner pays $10,000. Special levies can happen with little notice. A well-funded contingency reserve and a current depreciation report reduce the risk significantly.Special Levies Explained →
- Form B
- An information certificate that every strata corporation must provide to a potential buyer within 14 days of a request. 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 $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 — BC legislation 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 caveat: REDMA applies only to projects with 5 or more units. Most duplexes, triplexes, and fourplexes (under 5 units) are exempt.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 (projects of 5+ units). For smaller multiplexes exempt from REDMA, check your contract — a right of rescission may or may not be included.
- Disclosure Statement
- A document required by REDMA 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 have a set number of days (usually 7–10) 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 may be 1–3+ 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 all BC municipalities to allow 3–6 residential units on most single-family residential lots. The number of units allowed depends on lot size and proximity to frequent transit. 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 implemented its equivalent early through the R1-1 zoning bylaw change in 2024.Bill 44 Explained for Buyers →
- R1-1 Zone (Vancouver)
- Vancouver's residential zoning designation that replaced nine older single-family zones in 2024. Under R1-1, most residential lots in Vancouver allow 6 strata units or 8 rental units regardless of transit proximity. 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. In Vancouver's R1-1 zone, the base FSR is 0.70, with bonuses available for rental, accessibility, and other criteria.
Financing
- CMHC Insurance
- Mortgage default insurance required by federal law when your down payment is less than 20%. CMHC (Canada Mortgage and Housing Corporation) guarantees your mortgage to the lender if you default. Owner-occupied multiplex properties up to 4 units qualify for CMHC-insured mortgages: as little as 5% down on the first $500K (plus 10% on the rest) when buying a single unit or duplex, and a flat 10% down for a whole triplex or fourplex. The insurance premium (2.8–4% of the mortgage amount) is added to your mortgage principal.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 $200K, 2% on the portion from $200K to $2M, and 3% above $2M. First-time buyers may be exempt on purchases below $835K. New homes may qualify for a separate exemption on PTT. Ask your lawyer about your specific situation — the exemptions have changed several times in recent years.Financing and Tax Guide →
- GST New Housing Rebate
- A federal rebate that reduces the GST payable on new residential construction. For new multiplexes, the rebate can be significant — especially under the March 2026 changes that introduced a full GST exemption on new homes under $1M and a partial rebate for homes up to $1.5M. The rebate applies to new construction only, not resale properties.Financing and Rebates Guide →
- Rental Income Qualification
- When you buy a multiplex and live in one unit, lenders can use projected rental income from the other units to help you qualify for a larger mortgage. Most lenders count 50–80% of the rental income toward your qualifying income. This can increase your borrowing power by $200K–$400K depending on the rental rates in your area.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