New to the game of buying units so would appreciate some advise please. I'm looking at a strata titled villa unit in Tassie in a group of 10 which dosen't have a Body Corporate in place. What are the pros and cons of having a Body Corp, does it matter if there isn't one?
What do you mean by there is no Body Corporate in place, is there a Strata Manager and Strata fees to pay or not? Normally in Strata situations, a big part of the Strata fees are building insurance as the buildings are joined together, sinking fund covers things that were and/or get damaged in common areas, repainting of exterior doors, facias, replacement of gutters, even broken windows.
Don't know if this helps but not sure of your question.Mick
I had a situation where there was no body corporate on the contract – my lawyer advised that if there was no body corporate the title couldn't legally be registered as there was no right to use the common property (ie the carpark, stairs and hallways).
He opined therefore that the only way to legally access the property was to fly through the window!
Thanks Mick and Hany. The real estate agent advised me there was no fees to pay and no Body Corporate and everyone looked after their own place. She seemed a bit vague. I think on Monday I will be investigating further as from what you are saying there at least needs to be insurance and legal access to the property.
Nonnie
You must be logged in to reply to this topic. If you don't have an account, you can register here.
