5 Simple Tips For Stress Free Unit Ownership
I’m a strata searcher. Most people look at me blankly when I say that so now days I tell them it’s a fancy phrase that means I investigate body corporates. “Oh!” they reply and then proceed to tell me horror stories about their body corporate. Don’t get me wrong, I don’t mind. In fact, keep […]
What is Common Property and Why is it Important?
Buying a unit is different from buying a house. The key difference is the ownership structure. With a house, your lot is your lot and that’s it. With a unit the lot itself is only a part of the overall value of the unit. As important is the common property of the body corporate within […]
How To Decide If Body Corporate Problems Will Affect You
My role is to find body corporate problems. Find them and report them to the buyer or buyer’s Solicitor. But not all body corporate problems are actually, well, problems. A lot depends on their impact. This article is about weighing the pros and cons of body corporate problems to decide if they’re an issue for you, […]
10 Questions To Ask Before Buying A Unit
If you’re thinking of buying a unit then, most likely, you will be buying into a Body Corporate or Owners Corporation. Strata titled properties are different from free standing houses in a number of different ways. Firstly along with ownership of your unit you’re taking on a share of the body corporate as well, with […]
Can I Renovate A Unit?
Many people buy property planning to renovate and, ideally, add substantial value. But what if the lot in question is a lot in a strata scheme? Can you still renovate a unit? And just how much do you need to involve the body corporate in the process? As with most things body corporate the answer […]
“There Is No Body Corporate” and Other Myths About Duplexes
Out of a total of 42,948 different body corporates in Queensland 30,211 have fewer than six lots. That’s 70% of all strata schemes in Queensland. And the vast majority of that 70% will be made up of duplexes, the humble two-lot dwellings that dominate our suburbs. By now you may have already spotted the most common myth […]
Who Pays Special Levies: The Buyer of The Seller?
Special levies happen in body corporates more often than you might think, and, for some lot owners it’s “the final straw” and the reason they decide to sell. Does that mean any new owner automatically becomes responsible for paying those special levies? As with most things in the body corporate industry, it’s depends. It will […]
Body Corporate Water and Rates
UPDATE: 13/4/2015 – see the end of the article. As with many things body corporate water rates are complicated. Whether your water bill comes from the Council or the body corporate will be determined by whether or not a water meter is installed. By contrast, your rates bill will definitely come from your local Council, but, […]
How To Find Who Manages The Body Corporate Records?
Its very common in body corporates that there is NO representative of the body corporate available onsite. Which means, if you do need to speak to someone with the power to act on behalf of the scheme, finding out who that person is can turn into a drawn out treasure hunt. Whomever manages the body […]
What To Disclose When Selling A Unit
If there’s been a grisly murder or a suicide in an apartment, do you need to disclose that to potential purchasers? David Airey wrote on this subject in the Property Observer today talking about stigmatised history of a property. It’s kind of disturbing that this happens so often that there’s actually a name for it. When a […]