How the new Strata Laws make renovating easier for strata owners
When renovating a strata property, you need to ask the owners corporation for permission because it owns the building. It is different when renovating a house because you are renovating your own building. Up until now, almost all strata renovations have required the owners corporation to give approval by way of a special resolution (a 75% majority) at a general meeting. This requirement for approval by the owners corporation / body corporate arises because the external walls, the floor and the ceiling of each lot are common property, which is owned by the owners corporation. As a general rule, the strata owner owns only the skin of paint on the external walls and ceilings, the floor coverings, and of course the airspace and fittings in between. Read the article…………..
Strata committee members will feel the pinch from two new strata laws; the duty to exercise due care and diligence
Hard surface flooring* is a huge issue in strata schemes. As someone that has timber floorboards, I see the appeal
Sinking fund forecasts have been something of a joke to date. It’s something you’ve had to have, and you’re required