Strata management research survey

Strata schemes
Strata schemes are effectively small communities where the activities and attitudes of residents can have a significant impact on the satisfaction and enjoyment of others. Therefore, it is important to be aware of your responsibilities and obligations when you own or live in a strata unit.

Whilst strata living can provide a friendly community style environment, it helps to remember that it is not the same as living in a freestanding house. Some activities may be more restricted in a strata scheme, for example, where you can park your car, hang your washing or when and how you can renovate. Understanding these differences before buying or moving into a strata scheme can help reduce the likelihood of disputes over these activities later on.

What is different about living in a strata scheme?
The key features of living in a strata scheme are:

  • you own your unit or apartment as well as sharing ownership and responsibility for common property
  • if you own your unit, you are automatically a member of the owners corporation which has responsibility for common property
  • every 3 months you have to contribute to the cost of running the building through paying quarterly levies
  • you also have to pay money into a sinking fund, for future long term expenses such as painting the building or replacement of guttering
  • compared to living in a freestanding house, there will be lifestyle restrictions in a strata scheme, for example there are rules (by-laws) that may affect you doing renovations to your unit, that state where you can and cannot park your car, where you can dry washing or whether or not you can keep pets.

Read more about strata schemes:

Strata management research survey
The City Futures Research Centre at the University of New South Wales has commenced a two-year research project on the governance and management of strata titled buildings.

As part of the project, executive committee members and strata managing agents are being surveyed. Current executive committee members and strata managing agents are encouraged to provide input to this project by participating in these surveys.

For more information about the research project and to take part in the surveys, visit the City Futures Research Centre website.

Article Supplied by the Department of Fair Trading

on Monday, May 17th, 2010 at 10:55 AM and is filed under Strata Property Management. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
Leave a Reply

XHTML: You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Current Poll

Loading...

Head Office

Whelan Property Group Pty Ltd
277 Pyrmont Street,
ULTIMO , NSW 2007

Phone
TEL: (02) 9219 4111
Facsimile: (02) 9281 9915 strata@whelanproperty.com.au

Sydney North

Suite 1A Level 2
802 Pacific Highway,
GORDON, NSW 2072

Phone
TEL: (02) 9844 5819
Facsimile: (02) 9281 9915

Tweed Heads

Unit 5 & 6,
1 Sands Street,
TWEED HEADS, NSW 2485

Phone
TEL: (07) 5669 9719
Facsimile: (02) 9281 9915


Strata Management Sydney (NSW) - Whelan Property Group Copyright 2011 ©
We have had our website plagiarised before. If you see our words and content on another company´s
website you can assume that their business is unlikely to be based on a sound ethical foundation.
Careers | Site Map