hi all,

got an intersting one for you here- sort of a free hold apartment- sort of a serviced apartment-

i have the opportunity to buy a 1 bedder on the edge of sydney CBD.
The one bedder is in a block where some of the units are serviced apartments,  some appear to be renatable.
the one i am looking at is managed by a real estate agent who advertises and manages your property for you in terms on the tennant- my unit is not serviced by the people who service the other units the tennant must look after this apartment as if it was a normal free hold property- howver my tennant has full access to the facilities in the building.
the catch seems to be that you can only sign a short term lease "officailly" 90days- however the agnet has advised me that my tennant can stay on longer than that, and in fact the current tennant has been going 'week to week" for approx nine months now and another tennant in the building they manage has been there for 2+ years!

The other thing is i cannot live in it myself as an owner occupier but as it is for investment- this dies not really concern me.

I pay high srata fees- due to a consiergre and a pool.
i also pay water and council rates.

help!  what category does this one fall into???