A Vancouver-based startup is looking to bring clarity to one of the most frustrating parts of buying a condo: reviewing strata documents.
Founded by brothers Ashkan and Arash Tavassoli in late 2023, StrataReports is an AI-powered platform designed to make the document review process easier and more affordable for homebuyers and realtors.
The duo, both with graduate degrees in mechatronics engineering and backgrounds in software and data science, experienced the pain of strata reviews firsthand—and decided to build a better solution.
“We found existing solutions to be either prohibitively expensive or outdated and inaccurate,” said Ashkan, who leads the platform’s development. “We knew we could build something better.”
StrataReports builds on top of strong existing AI models, such as GPT-style architectures, and fine-tunes them specifically for strata and condo documents. Rather than reinventing the wheel, the company focused on adapting these models with precision for its use cases.
Since its soft launch in January and public debut in March 2024, StrataReports has hit record monthly growth, despite a challenging market. The bootstrapped startup expects that trend to continue, fueled by a growing user base and several upcoming partnerships in the brokerage and real estate service space, which the company is finalizing.
The platform’s primary users are realtors, largely due to early marketing efforts targeting this group. However, StrataReports is seeing increasing interest from buyers as well. So far, the company has received 117 feedback submissions on reports, with an average score of 2.73 out of 3.
“We’re seeing consistent month-over-month growth, even in this market, and we hit a new high last month,” said Ashkan, noting that while specific revenue numbers remain private, the company is optimistic about its trajectory.
The pain point StrataReports addresses is especially acute in B.C. and Alberta, where strata and condo governance creates a critical need for document transparency.
Looking ahead, the founders aim to cover the entire real estate transaction process. “Our long-term vision is to provide a more end-to-end experience for buyers, sellers, and realtors,” said Ashkan. “We’re already exploring collaborations with teams working on adjacent parts of the journey.”
With the real estate transaction process becoming increasingly complex, StrataReports sees a growing need for tools that simplify due diligence, particularly in B.C.’s strata-heavy housing market. The company’s innovative approach to strata document review is already gaining traction, with more exciting developments on the horizon.
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