Hi peeps! Got a question I’m hoping someone can help me out with,
Currently looking at a property 3 units, counsil rates are 1500$ each per year as they are all separate title. Can I change the title to a strata title to wipe out some annual cost in rates? I plan to buy and hold, seems crazy to be paying 4500$ per year on 3 units as separate titles on a piece of land that’s only 700m2.
Any help, words of wisdom, or ideas would be greatly appreciated! TIA!
Happy investing!Hi Shaun,
Seems to me thay are already stata titled. I think you are wanting “community title” (?) – but the obvious questions would be – is there any gain in changing back? Is it even allowed?A Council will want to be paid for – garbage collection, provision of water, sewerage, and a host of other things for 3 units whether you group them as one or have them as 3 strata’ed units. Don’t they all need these things, and won’t Council need to provide 3 of everything even if all grouped under one title?
A call to your Council would likely be a good start methinks,
Benny
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