What do you need to know before buying a strata unit?

What do you need to know before buying a strata unit?

But whether you’re buying a unit or a townhouse, you should look into the history of the property and its strata scheme before you sign the contract to ensure you know exactly what you will own and what’s deemed to be common property, that is, shared by all of the owners in the owners corporation or body corporate.

Which is common property in a strata unit?

In most strata schemes, the lot owner owns the inside of the unit but not the main structure of the building. Usually the four main walls, the ceiling, roof and the floor are common property. The basic rule is that everything inside a lot is the owner’s property which includes all internal walls, fixtures, carpet and paint on the walls.

Can you install floorboards in an older strata?

The strata manager replied to the request by advising that as one of the adjoining owners had not consent to the request, a general meeting would not be called and the applicants would not be able to present their request to the owners corporation and they could not install the floorboards.

Who is responsible for improvements to a strata?

As such, unit owners need to account for the following: Unit owners need to understand that any improvements they make to a strata are their responsibility. In addition, if a suite has been remodeled by a previous owner, the new fixtures are the unit owner’s responsibility.

Do you have to comply with strata by laws?

As an owner of a strata property you, or your tenants, must comply with the relevant by-laws of the strata building. These can be changed by a decision of the owners’ corporation or body corporate.

Do you have to repair common property in a strata scheme?

Sadly the new Repairs and maintenance in a Strata Scheme fact sheet does NOT have this in there but it’s still very informative. “The owners corporation must repair common property, and owners must repair anything within their lot. However, it is not always clear what is common property and what is the individual lot.

What’s the difference between a lot and a strata scheme?

Frequently asked questions – Strata schemes. 1 Common property. The major difference between owning a house and owning a unit or apartment (known as a ‘lot’) in a strata scheme, is that the 2 Owner’s corporation and by-laws. 3 Meetings of the owners corporation. 4 Strata committee. 5 Repairs and maintenance. More items

Which is the property of a Strata Corporation?

Unless a particular strata plan indicates otherwise, the boundary of a unit is the internal surface of the walls, floors and ceilings [s 5 (5)]. In most strata corporations, the roof, guttering, external walls and foundations are common property. Internal walls are the owner’s responsibility.

Can a Strata Corporation refuse to pay for shared facilities?

In the event that a chain of contracts is broken, owners of shared facilities can still argue that a strata corporation has become bound by their conduct to a pre-incorporation agreement. This argument should not be framed as an exception to the rule that positive covenants do not run with the land.

Can a Strata Corporation give you a written notice?

If a unit holder does not do so, the strata corporation may give a unit holder written notice requiring them to carry out specific work by a certain time.

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