The following is important information regarding the redevelopment of Strata Plans: Owners corporations may receive strata renewal proposals under Part 10 of the Strata Schemes Development Act 2015. What do they need to do? The key steps are as follows: • If the scheme was an existing scheme when the new legislation commenced on 30 […]
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Owners corporations may receive strata renewal proposals under Part 10 of the Strata Schemes Development Act 2015. What do they need to do? The key steps are as follows: If the scheme was an existing scheme when the new legislation commenced on 30 November 2016, it needs to convene a general meeting to pass a […]
At Sydney Strata Specialist we are asked about the new changes in legislation regarding the 75% rule in selling / redeveloping the strata scheme. The strata scheme may be facing repairs either immediately or in the near future – these could mean that current owners raising tens of thousands of dollars each or even more. […]
In this article, we will look at the median unit price trends in the Brisbane and Sydney markets. Here is a graph of the median unit prices in Sydney and is based on approx 500 sales per year: Now let’s compare Sydney to Brisbane: The sunshine state capital Brisbane is set to boom and has seen […]
The following is an overview of the basics of pets and strata management. The laws and around keeping animals in strata schemes are often disputed, which normally involves the owners corporation’s refusal to allow animals, however allowing pets is not clearly prohibited in the by-laws of the strata scheme that is in question. If the owners […]
What are the top 10 most desirable suburbs in NSW? Interestingly, Port Macquarie is ranked number 1. It is mentioned that this is due to the ‘seachange’ trend in the market and the area has recently attracted a lot of investors. See all of the story here
Sydney Median Property Prices In a recent report, Sydney had placed second globally for the least affordable city and property prices. The recent global report comprehensively ranked middle-income housing affordability using a “median multiple” score, which is calculated by dividing the average house price by the average household income. Any city that has a score […]
Here are six facts you may not know about Sydney and Australia’s property market.
Short term letting / Air BNB Update. The Parliamentary Inquiry into the Adequacy of Regulation for Short Term Holiday Letting handed rejected requests that allowed Owners Corporations to prohibit Short Term/Airbnb letting within strata schemes. If an owners corporation desires to prohibit or at least regulate the management of Airbnb short letting arrangements within its […]
Painting of a balcony ceiling – This is considered Common Property and therefore Owners Corporation costs. Security doors or flyscreens (if not installed by an owner) are considered Common Property and therefore Owners Corporation costs. False Ceilings added after the registration of the Strata Plan – Are Lot Owners’ costs to repair. Fences that show […]
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