3.2.3 Strata information you should know

Buying a strata titled unit, flat or apartment gives you the right to own the space inside the walls of your lot and also gives you the right to use areas that are designated as common property (e.g. swimming pools and stairwells). Sometimes a lot may also include parts of the building and land.

Before buying a strata unit, ensure you review a copy of the strata plan to see what you will own and what is common property.

If you’re planning on purchasing a strata titled lot you need to be aware of the following:

• Option to attend strata meetings; although it is not mandatory to attend strata meetings, a strata company generally works best if those concerned take an interest in its affairs

• Requirement to abide by any rules of the strata company

• Requirement to pay levies to administer the common property areas

Before purchasing a strata title property check the following:

• What are the strata company fees and levies?

• Does the strata company have enough funds to properly maintain the complex?

• Are there any legal or insurance claims against the strata company?

• Are there any outstanding levies due?

• How often is maintenance carried out?

• Is the building adequately insured?

• Is there a clear procedure to follow if there are problems (e.g. disputes between neighbours)?
• What rules do they have in place regarding pets, car parking and use of common property?