Apartment glut will lead to a 15 per cent price fall in some capital city areas

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An apartment glut in some of Australia’s biggest cities has led oversupply and the risk of a sharp price fall. This will lead to a price fall of up to 15 per cent, leading economists warn. Despite the clear risks of a sharp downturn, interest rates continue to be at record lows, lulling the unwary into unwise purchases and increasing settlement risk. Further, when apartment prices do drop, there is likely to be a contagion effect that will see prices crashing across the entire property market. In a worst-case scenario, this will lead to recession. Apartment construction booming Apartment building […]

Not sure about apartment pet laws? Find out your rights for you and your pet

Posted on Leave a commentPosted in Hints for Strata Living, Strata Compliance, Uncategorized, Urban communities

Pets and apartments don’t mix, right? Well, for a long time, this was a widely held belief. And there are still plenty of people who think that flats and Fido don’t mix. But rules are slowly being relaxed as more and more people come to realise that most pets don’t actually bark all night, tear up the communal garden or attack small children. Pet rules and laws In most states and territories, the default law bans pets. In other words, it’s necessary for the strata committee to actively rule that residents can have pets. Dogs of Victoria can give a […]

Annoyed by your noisy neighbours? Do something about it!

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“I have to listen to my neighbour’s music and I don’t have a choice.” Is this you? And not so into their music? Dealing with noisy neighbours can be a tricky affair. After all, they live next to you and could make your life even more miserable if they were that way inclined. But ignoring it would be doing yourself a great disservice. You need your sleep. So, what can you do when it feels more like you’re living with someone than next to them? Try talking to your neighbour about the noise You may feel anxious about talking to […]

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

Posted on Leave a commentPosted in Body Corporate, Hints for Strata Living, Owners Corporation Compliance, Strata Compliance, Strata Management, Uncategorized

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 […]

Website creates Vertical Communities

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A website for buildings that creates vertical communities sounds like techno, tree hugging, mumbo-jumbo. Indeed ‘community building’ is one of those slogans you hear chanted by the left; people who want to save forests and shut down brown-coal fired power stations. But community building is now starting to gain the interest of property developers, a group not generally associated with left-leaning do-gooders! It’s good for developers to use the language, but are they really delivering housing that promotes genuine community building? Large scale residential towers along Australia’s eastern coast are enjoying a boom, as one in four Aussies now live […]

Improve Property Value in a Strata Scheme

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To improve property value in a strata scheme, owners must work together to achieve results. This can be a difficult undertaking as people have different ideas about what renovations are required to add property value in a strata scheme. Sometimes people make the mistake of taking the cheap option of simply patching a structural problem or existing defect. This is like wallpapering a cracked wall. Any building inspection from a new purchaser will reveal the underlaying cause of the problem and thus devalue the whole property. This can also cause the impression that there may be other major issues you […]

Can you manage your strata yourself?

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You can definitely manage your strata yourself. There is no legal requirement for you to engage a strata manager. It’s called self-managed strata, diy strata or diy body corporate. Hundreds of thousands of owners living in Australian strata schemes self-manage their stratas. Of course some owners think that self-managing their stratas means not managing. A poorly managed strata scheme devalues a property. With more and more people becoming educated on living in an owners corporation or body corporate, savvy buyers check the state of the body corporate’s finances, record keeping and the harmony of a strata community before they buy. […]

How to Add Value to your Apartment Building

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How do you add value to your apartment? Most likely you’d install a timber floor or update the kitchen. The cost – tens of thousands of dollars – and with a rising property market and a bit of luck you’d see the money back. Even if you don’t want to spend that sort of money on your apartment, you can still add value to it by making sure it’s part of an appealing and well kept building. With thousands of new apartments being built making improvements to your own building may not just be an option, it may be a […]

15 Fantastically Organised Spaces

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With sales in Australian apartments going gangbusters, the secret to living in these apartments is fanastically organised spaces. Australians have much to learn from apartment dwellers accustomed to the confined spaces of New York or Tokyo. Organised thinking and discipline is what’s needed when you don’t have a ‘pool room’ to display your collectables. There are handy little secrets for fantastically organised spaces. There are some great tips from bloggers on sites such as Apartment Therapy. I like this blog with gorgeous photos to admire for their organisation. “Beautifully organised spaces are very inspirational for me. Often, I think, if […]

What approvals do I need to renovate my unit?

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Owners living in a strata community, body corporate or owners’ corporation sometimes want to renovate their apartments. But it’s difficult to know your rights and obligations. Do I need permission from my neighbours to renovate? What if I don’t get permission? It’s not really that scary, more common-sense so dream big with your renovations but follow the rules. This article by Bannermans Lawyers is very helpful for navigating the difference between hammering a nail in a wall to enclosing a balcony. What approvals do I need to renovate my unit? While this article is about renovating units in NSW only […]