strata management

15 Things Respectful Body Corporate Residents Do

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When you buy a property that forms part of a strata scheme, you are effectively investing in a community. The community is typically split into three groups. Lot Owners: The owners of the individual properties, often called “lots”, within the strata scheme. Lot Owners collectively make decisions about how the common property is managed, administered and maintained, and contribute financially to the operation of the strata scheme. Residents and Occupants: The people who live within the strata scheme. Residents may be lot owners (owner-occupiers) or tenants. They could also be people who work in any commercial lots that may exist […]Read More

strata company sydney

What Do I Own in my Strata Scheme and What is Common Property?

Posted on 4 CommentsPosted in Body Corporate, Hints for Strata Living, News, Owners Corporation Compliance, Strata Compliance, Strata Management

For any unit owner as part of a strata scheme, body corporate or owners corporation, the critical question is what is your unit (or lot) and what is common property. This will determined who is responsible for what and who pays. General Rule (subject to exceptions) The general rule applicable to the majority of strata schemes registered after 1 July 1974 is: The structures located on the solid thick line, such as, that shown above at the registration of the strata plan are common property. The ceiling , the structure of the floor including fixed tiles or floorboards, the electrical […]Read More