Discover a seamless strata living experience through our curated resources. Delve into essential insights on property governance, legal compliance, and smart investment strategies within the dynamic realm of strata ownership. Access practical guides and valuable advice to confidently navigate regulations, ensuring an informed and empowered strata living journey.
Embedded Networks Victoria: Are You Overpaying for Electricity?
Victorian Apartment Owners Stuck in Costly Embedded Networks A new study by the Victoria Energy Policy Centre has found that customers in apartment buildings in Victoria on embedded networks are paying up to $439 a year more than the best deal they could get if they were able to access the free market. Put another way, the study, which was…
Can Your Body Corporate Ban Short-Term Letting? 50,000 QLD Owners Need Answers
Short-term Letting Body Corporates: Clearing Up the Confusion Recent media coverage of a Queensland court decision regarding short-term letting in a body corporate has caused quite a stir. However, it’s crucial to understand the specific context of this case before jumping to conclusions. The Fairway Island Case: A Unique Situation The case involved a…
Body Corporate Management Update: Owner Gets to Keep Balcony
Who is responsible for fixing a balcony on common property that has fallen into disrepair but was constructed without the approval of the body corporate? The answer may surprise you. Introduction It is not uncommon for owners to build structures on common property without the approval of their body corporate. But what happens when these structures fall into disrepair? Who…
The Case for Banning Airbnb & Short-stay in Apartment Buildings
Are Apartment Buildings Equipped for Airbnb and Short Stays? The recent tragic death of a young woman at a Melbourne short-stay apartment raises serious questions about the suitability of residential buildings for this type of accommodation. Are apartment buildings truly equipped to handle the unique challenges posed by short-term rentals, or are we putting residents…
New Property Developments – ‘To Strata or Not to Strata?’
How to Set-Up a Body Corporate (Owners Corporation) We’ve been receiving a lot of questions of late from property developers asking about ‘how to set-up a body corporate’, so here’s a helpful checklist. I think the starting point for this conversation should be the question A Body Corporate is created when a piece of land (Torrens Title) is sub-divided into 2…
Owners Corporation Management – Statement of Advice & Information For Prospective Purchasers and Lot Owners
What is an Owners Corporation? The lot you are considering buying is part of an owners corporation. Whenever a plan of subdivision creates common property, owners corporation management is responsible for managing the common property. A purchaser of a lot that is part of an owners corporation automatically becomes a member of the owners corporation when…
Are Apartments Still A Good Investment?
The Simple Answer Is Yes Yes, apartments are ok to buy but you need to be selective. We explain some of the diligence we apply to the purchase of an apartment. Selecting The Right Apartment Apartments grow at a slower rate than houses and townhouses but they still grow in value, provided you choose the right one. One bedroom apartments…
Update: Regulating Short Stay Accommodation
Short stay accommodation is a growing worldwide phenomenon. To date owners corporations have largely been unable to manage the use of lots within their owners corporations relating to short stay accommodation. This is an issue of substantial concern when the behaviour of the short stay occupants is unruly. Recently VCAT ruled that an Owners Corporation rule…
Change Body Corporate: Why Body Corporate Fees Are So High?
The recent uproar over certain politicians misusing entitlements was, for me, reminiscent of what can sometimes occur within body corporates. Strata owners contribute quarterly funds for the operation and upkeep of their building. Most body corporates engage and employ a professional body corporate manager to oversee where and how these funds are spent. Now it should be said that the majority…
Understanding Owners Corporation Insurance
Owners corporation insurance is the cover arranged by an owners corporation to protect the building and common property it’s responsible for. For Melbourne Committees, this is a legal requirement under Victorian law, though many owners still call it strata insurance or body corporate insurance. This guide explains what it usually covers, what lot owners may still need to insure themselves,…