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 management

5 Reasons Why All Landlords Should Attend Strata Meetings

Posted on Leave a commentPosted in Strata Management

As an individual owner, you have complete control over how your own property is maintained, managed, and even designed. However, in some instances, such as apartment buildings, owners share space or property. Common property is defined in Victoria as any part of the land, structures, or airspace that is not designated as a lot on the subdivision plan. It may consist of gardens, passageways, walls, paths, driveways, stairs, elevators, foyers, and fences. The lot owners collectively own the common property. Since it is collectively owned, it is critical that the owners make decisions collaboratively, as it will impact everyone including […]Read More