I am used to buying a single unit at a time. I have an opportunity to buy all the units in one complex and the R/E advertisement states 'strata title' as plus.
I thought units were automatically strata titled??? what actual benefit is there to me in buying all the units???
Thanks..
RLA property is only strata titled if an application has been made, strata plans lodged and approved and separate titles given to each lot. Otherwise the property would remain on the lot(s) which were developed. A separate DA needs to be lodged for approval to strata.
The benefit of owning all of the units – total control, no need for a strata manager or executive committee, ability to sell one or more of the units (as opposed to owning a non-strata block).
Disadvantage – you are paying X+1 lots of rates
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