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