Understanding Strata Title in NSW

26th September, 2024

 

Strata title ownership is a unique form of property ownership popular in New South Wales. When you buy a property in a strata scheme, you own your individual unit and share ownership of common areas with other owners. These common areas can include gardens, corridors, and swimming pools.

 

Rights of Owners

As a strata owner, you have specific rights. You can enjoy your property peacefully, access common areas, and participate in owners corporation meetings. Each owner is entitled to vote on important decisions affecting the strata scheme. It’s essential to understand your rights, as they are designed to protect your interests and those of your neighbours.

 

Responsibilities of Owners

Alongside rights come responsibilities. Owners must adhere to the by-laws set by the owners corporation. These rules govern how residents use their properties and shared spaces. Common by-laws may cover noise restrictions, renovation approvals, and the use of common facilities. Violating these by-laws can lead to disputes, which may require mediation or even tribunal intervention.

 

The Role of the Owners Corporation

The owners corporation, often called the body corporate, manages the common property and ensures compliance with the by-laws. They are responsible for maintenance, insurance, and managing the finances of the strata scheme. Regular levies are collected from owners to cover these costs.

 

Resolving Disputes

Disputes can arise in any community setting. If you face issues with neighbours or the owners corporation, there are processes to resolve them. Initially, mediation through NSW Fair Trading can help. If unresolved, you may need to seek a decision from the NSW Civil and Administrative Tribunal. For more information on dispute resolution, visit the NSW Fair Trading website.

Navigating strata title can be complex, but understanding your rights and responsibilities makes it easier. For tailored advice and assistance, our conveyancing firm is here to help you every step of the way. Contact us today on 02 6687 0548 to ensure a smooth experience in your strata living journey!