Buying & Investing in Strata

Changing Strata Management Companies – “Breaking Up is Hard to Do”

Article contributed by Tom Bacon, Principal Lawyer at Strata Title Lawyers   When most of us enter into personal relationships, there is a fairly evenly-distributed balance of power and autonomy, at least to start with. And when we do enter into these relationships, we expect them to last long-term. We also realise that when relationships […]

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Owners Corporation Victoria – Statement of Advice and Information For Prospective Purchasers and Lot Owners

What is an Owners Corporation? The lot you are considering buying is part of an owners corporation. Whenever a plan of subdivision creates common property, an owners corporation is responsible for managing the common property. A purchaser of a lot that is part of an owners corporation automatically becomes a member of the owners corporation […]

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Creation of Domestic Building Dispute Resolution Victoria (DBDRV) to Address Strata Building Defects

Article contributed by James Collier, Partner and Gerard Nymyer, Senior Associate – Moray & Agnew Lawyers   Owners Corporation Managers of residential unit developments need to be aware of these changes as they apply to disputes between owners (including owners of apartments in buildings of any size and owners corporations in relation to disputes concerning common property) […]

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Owners Corporation Law, March 2017 – Overview of Melbourne’s Apartment Market

Article contributed by Tom Bacon, Principal Lawyer at Strata Title Lawyers   There is no denying that Melburnians are fascinated by high-rise strata living, as evidenced by the large number of multi-storey high rise developments that continue to be marketed, built and sold “off the plan” in and around the city.   As compared with […]

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Owners Corporations Cannot Prohibit Use of Short Term Letting of Apartments

Article contributed by Bronwyn Weir & Annette Eastman, Maddocks    In July 2016, The Supreme Court of Victoria handed down an important decision in Owners Corporation PS 501391P v Balcombe [2016] VSC 384 (Balcombe case) regarding whether an Owners Corporation had the power to make a rule prohibiting short term letting of apartments. The Court held that […]

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Are Apartments Still A Good Investment?

Article contributed by Justin Dunne, Buyer’s Advocate, Independent Property Brokers.    The Simple Answer Is Yes. Yes, apartments are ok to buy but you need to be selective. We explain some of the diligence we apply to the purchase of an apartment.   Selecting The Right Apartment Apartments grow at a slower rate than houses […]

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Top 10 Causes of Building Leaks

Article contributed by Martin Speller, The Leak Professionals   Doing building maintenance work has provided some great insights about the buildings that we take for granted. The one standout is the number of buildings that leak. This list covers the most common causes, not necessarily in order of frequency. These are the items that come up again and again.   […]

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FIRB a Four Letter Word…?

Article contributed by Domenic Lo Surdo, Executive Director at Stamford Capital   The Australian residential market, for apartments in particular, is at an interesting juncture with most debt that was available for foreign purchasers having withdrawn from market. This withdrawal coincides with unprecedented forecast levels of development completion over the next 24 months – with our […]

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Taxation Ruling Tr 2015/3 – Matters Relating To Strata Title Bodies

Article contributed by Peter Dawkins, Partner at Kelly + Partners Chartered Accountants   On Wednesday 25 November 2015, The Australian Taxation Office issued Taxation Ruling TR 2015/3 which finalised Draft Taxation Ruling TR 2015/D1 (issued 27 March, 2015). As noted in our summary of Draft Taxation Ruling TR 2015/D1 circulated in June 2015, previous Taxation Ruling […]

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The Perils of Applying the ‘Benefit Principle’ Under the Owners Corporation Act

Article contributed by Anton Block, Partner at Kliger Partners   Building Defects Building defects in common property and repairs required to common property are particularly vexing for owners corporation members. When a defect is discovered or when repairs are required, an owners corporation naturally turns its attention to the following key questions: Who is responsible […]

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