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

Self managed strata schemes: does your tradie have the right insurance?

Posted on 2 CommentsPosted in News, Strata Compliance, Strata Management

Self-managing your strata scheme it’s important to check that the tradies you engage have the right insurance cover. It’s not hard. Just follow these steps. Make sure that you check that the company the tradie works for has public liability insurance.  Simply getting a, “Yes I do!” from the tradesperson is not sufficient.  You must ask them to provide you with a Certificate of Currency, which they can obtain from their insurer. Holger Schnabel, from Whitbread Insurance Brokers says, “Best practice is keeping a register of all of the tradespeople used by the Owners Corporation and note that a copy […]Read More