Jun 23, 2016 | All Things Strata
Buying a strata unit “off the plan”, before it has been built, has long been common. As compared with buying an existing property, there are many potential benefits, e.g. good pricing offered by developers needing to satisfy finance requirements, potential capital...
Jun 7, 2016 | All Things Strata
If your strata scheme is self-managed, contact the Chairperson of the committee. If there is no committee, ask the other owners who the go-to person is. If your strata scheme is managed by a strata manager, contact them. However, it’s very important to understand that...
May 24, 2016 | All Things Strata
Strata managers are engaged by the strata scheme’s owners committee to manage the day-to-day affairs of the scheme. Strata schemes are becoming larger and more complex. Strata managers provide services and advice on: • Financial management • Insurance • Clerical...
May 10, 2016 | All Things Strata
The administration of an owners corporation may be undertaken on behalf of all the lot owners by a committee. This consists of a group of owners elected at each Annual General Meeting who represent all the lot owners of the strata scheme, and is charged with making...
Apr 26, 2016 | All Things Strata
What is a strata scheme? A strata scheme is a system of multiple ownership of a building or collection of buildings. Each owner owns a portion (called a ‘lot’), which is usually an apartment or townhouse, but every owner shares ownership of any common...
Apr 19, 2016 | All Things Strata
Residential strata insurance (known as body corporate cover in some states) is general insurance that covers common property under the management of a strata title or body corporate entity. Owners of strata titles typically share the premium costs of strata insurance...
