What if there is no body corporate?

What if there is no body corporate?

Without a body corporate, matters affecting common property will not be dealt with in a consistent manner. This can be frustrating for owners when matters are not addressed in a timely manner or addressed in an inappropriate or ineffective manner.

What does no strata fees mean?

Strata fees must be paid by those who own an apartment or home within a larger building complex. You will not pay strata fees if you are renting. Most landlords will account for these costs by rolling them into the monthly or weekly rent charged for the property.

What is strata and non strata?

Fourthly, such owners of a strata development have strata lot numbers that are assigned to their units. Such lots do not have any share value. A non-strata title development refers to private apartments or flats which are not under the purview of the Land Titles (Strata) Act, Chapter 158.

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.

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

The major difference between owning a house and owning a unit or apartment (known as a ‘lot’) in a strata scheme, is that the external walls, the floor and roof do not usually belong to the lot owner. These areas are usually common property and generally the responsibility of the owners corporation.

Can a strata be without a common property?

Strata can exist without common property that requires maintenance or insurance. I.e with no common property land or parts of buildings. Making it a strata can be due to council requirements (eg minimum land size for non strata) or due to some shared services (eg water or drainage).

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.

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