Strata management South Australia services include collecting and banking levies, arranging maintenance, placing insurance, and keeping financial accounts. They also provide advice on handling difficult and complex strata issues. They are also familiar with state and territory legislation.
Strata managers (corporate body managers or owners corporation managers) are professionals administrating an owner’s corporation. They follow instructions issued by the owner’s committee and ensure buildings comply with state-based legislation.
Strata title properties
A strata title property is a land title used to describe shared ownership in a building. These properties are generally found in apartment complexes and townhouses, but they can also be found in freestanding structures. There are several different ways in which a strata title property is managed. Some of the most common are appointing a strata manager, collecting strata levies, and dealing with disputes between owners.
Strata titles differ from regular land titles because they include ownership of individual lots and common property. The common property includes shared stairwells, driveways, and garden areas. The owner’s corporation is responsible for managing and maintaining these areas, and they collect a strata levy from each owner to fund these expenses.
Before buying one, you should know some unique elements of the strata-titled property. For example, a strata lot owner becomes a co-owner of the society’s common properties, such as parks, gardens, and gyms. This means they cannot separate their interest as a strata lot owner from their stake in these shared assets.
The most common type of strata title property in Australia is an apartment or condominium. These properties are typically smaller than traditional standalone bungalows or houses and offer the convenience of having shared facilities such as elevators, pools, and gardens. Strata title property also provides a cost-effective lifestyle because the corporation handles most repairs and maintenance through quarterly charges.
Strata fees
A strata management South Australia fee is money collected from individual owners in a corporate body to pay for everyday expenses like insurance and maintenance. It’s also used to fund a sinking fund for future capital works, such as repairing and replacing lifts or common areas. Strata fees are typically determined by the body corporate at its annual general meeting (AGM). The budget must be carefully considered and reviewed by members before it is put to the vote.
Strata fees are mandatory contributions made by owners with properties in a strata scheme, which includes apartments, villas, townhouses and duplexes. These contributions keep common areas, such as elevators, hallways, car parks and pools. The fees are calculated by dividing the cost of the building’s expenses by the square footage of each unit. This is why larger homes often have higher strata fees than smaller ones.
It’s important to know what’s included in your strata management South Australia fees before you buy a property. Low strata fees can look attractive, but they may not be enough to cover ongoing costs. It’s also essential to pay your levies on time. Unpaid levies will attract interest and can impede your ability to sell your property.
Strata by-laws
Strata by-laws are the rules that govern how a strata scheme is run. They are the laws determining who is responsible for what in the system and how disputes are resolved. They also provide clear boundaries for what is permitted and what is not, making it easier for councils to enforce by-laws effectively, fairly, and consistently.
Generally, by-laws are made by the owner’s corporation at a general meeting and must be endorsed by most lot owners. They can be created from a standard set of model by-laws or drafted precisely for the strata scheme. Regardless of the source, by-laws are designed to protect the rights and interests of owners and residents in the system. They should not be used to make unfair or unreasonable demands on the scheme’s residents.
There are many types of strata laws, and they differ from state to state. Some states have a standard set of rules, by-laws, and covenants that apply to all strata buildings. However, other states allow a strata building to opt-in or out of these and can also create additional rules, by-laws, and covenants.