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

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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

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Unethical Strata Managers

Posted on 1 CommentPosted in News, Strata Management

I hear some terrible strata stories but this week I heard a corker. I have been working with a Sydney-based strata community. The owners of this block of 22 townhouses have been pulling their hair out for several years with an unscrupulous strata manager who authorised supposed ‘maintenance’ on the property at inflated prices. Many of the maintenance jobs were not completed or poorly executed. Money was paid to family members of the strata manager for the maintenance works. The community’s accounts were in a terrible state. The community decided to self-manage their strata scheme one year ago with Our […]Read More

strata management nsw

Tips for Buying into a Strata (Part Three)

Posted on Leave a commentPosted in News, Strata Compliance

So you’ve done your research (see my previous blog post) on your new strata property and all checks out okay but something still isn’t quite right.  Where to next? Contact the strata manager (if there is one) to ask your questions. But maybe go a step further. Before I buy into a strata property I also try to speak to the President or Presiding Officer of the community, that’s the chair of the group elected by the owners. For privacy reasons, the strata manager mightn’t give you this person’s contact details.  Alternatively, ask the strata manager to pass on your […]Read More