For financial and social reasons, many Australians prefer to live in apartments. Furthermore, for many people, living in an apartment-style property is a very convenient option. It is also one of the most popular alternatives due to its convenience. The strata property is an example of an apartment-style property. However, living in a strata property has its own set of challenges that must be overcome. Continue reading to learn more about strata property and how it works.
What is a strata property?
Strata means ‘to layer’. In terms of a property, a strata property refers to homes that are layered or stacked on top of each other. Through such a design, many families, couples, and individuals can live on the same block. Even though it may seem like a convenient alternative, it has its own drawbacks. Although strata properties have been existing for around 50 years, people are still figuring out ways to adjust to such property types. One of the main drawbacks of strata is the presence of complex rules. Thus, you must opt for an experienced strata lawyer in Sydney.
Strata can be used for the following:
- Residential
- Shopping
- Mixed (Shops with apartments)
- Villages
- Resorts
Many residents don’t opt for legal assistance when dealing with strata properties until they have to deal with a problem. You should know that investing in a property is one of the most significant life decisions. In addition, dealing with the legal processes can be extremely complicated. Thus, legal assistance is a must. Here are a few more reasons to consult a professional and experienced strata lawyer:
1. To understand the property
There are two types of strata properties:
Common property:
For the common property, all owners share the property. When the strata plan is registered, the owners corporation, a legal entity, is created. Common property is managed by the owner’s corporation.
Lot property:
This type of property is an individual property owned within the entire apartment or complex.
There are certain rules which determine where the property starts and ends. These rules are often at odds with what the owners think they own. Therefore, it is important to seek legal assistance and understand all the strata property rules and regulations.
2. Creating by-laws
For solely owned residential properties, it is easier to carry out tasks such as kitchen renovations. However, in the case of a strata property, you must take various permissions. In other words, there is a contract between the owner’s corporation and the owner. Only a reliable strata lawyer can help you understand complex strata by-laws in Sydney.
3. Reducing conflicts
Disputes and conflicts are common when living in a communal society. Reliable building dispute lawyers in Sydney will help you address these disputes in the earlier stages and resolve them internally. In case the dispute escalates, a strata lawyer can provide legal expertise and strategies to resolve the conflict in the most beneficial way possible.
4. Handle unfavourable situations on time
Understanding strata law can be complex and challenging. Some individuals may take advantage of you if you are not well-versed in these laws. Therefore, it is important to have someone specialising in this area. By doing so, you can prevent unfavourable circumstances on time and become fully aware of your rights and responsibilities.
A strata lawyer can make these complex tasks easier by providing effective policies and procedures. Apart from this, they will also handle disputes and conflicts effectively. If you want to know more about strata law and properties, contact one of our strata lawyers today.
Disclaimer: This is a commentary published by Pobi Lawyers for general information purposes only and should not be relied upon as specific legal advice. You should obtain your own legal advice specific to your circumstances before you take any action or otherwise rely on the contents of this article. The content of this article is subject to change. The law is also subject to change.
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