Strata Management A Must For The Owners

Before investing in any kinds of real estate are it land

, independent houses or strata title property one should spend some quality time analyzing all the pros and cons of the scheme that he wants to opt for. In this article we will discuss about why one will require the strata title management while opting for a strata scheme.

There are some major differences between the ownership of an independent house and the ownership of a unit or apartment under a strata scheme. So, one is expected to get into trouble if he/she is not very clear about the whole concept.Years ago when land was not a major issue people used to go in for independent houses building it according to their own taste and own specifications. But in today"s time when most of us are hard pressed for time it is natural to go for houses under a strata scheme which will meet our requirements.

Strata or strata title is a building or a collection of buildings which can be apartments, villas, duplexes, offices; commercial complexes so on and so forth. Under this scheme an individual owns only apart or particular portion of a building which is more commonly known as a LOT? So while buying in a strata title you have the title deeds for a unit and restrict your exclusive rights to the inner four walls. The outside walls, windows roof, driveways, open areas etc come under another lot "" Common property.

So basically under a strata scheme you own the inside of your unit but the owner"s corporation of which you are also a member has the joint right over the common property. Now you must be thinking so far so good. All the owners will manage our independent units and jointly manage the common property and so why are we in need of Strata Title Management?

Imagine a normal household of parents and their two children. They have their independent rooms but you can imagine where the problem starts. Generally the issues are who is going to throw the garbage that is going to take the dog out in winter that will clean the driveway and the list is endless. So you can very well understand that conflicts will be there when so many people are staying in a compact space and sharing a lot of common properties.

How the Strata Management Will Help You----

-The strata management will provide you with experienced managers who will make you understand about your ownership rights and duties towards the common properties.

-Make you aware about the latest strata laws by the Government and the various by-laws under a strata scheme.

-Look after the financial aspect like insurance, taxes, levies, amount for the sinking funds etc.

-Will help the owner"s corporation in appointing a caretaker to look after the common property.

So in your busy life if you have the option of taking the help of a professional and certified strata manager who has in depth knowledge about the strata title and he is taking a lot of burden for a reasonable amount then you are not getting a bad deal.

by: Chris Whelan

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