Who pays the maintenance on multi-tenant properties. For example, a small office building or mini shopping centre with car park and common areas?
Thanks!
Mike
Email MeThe body corporate does, using the strata levies
D.T. | DT Property Management
http://www.dtproperty.com.au
Email Me | Phone MeAdelaide Property Management - whole Adelaide metro
The body corp should look after the common areas and each tenants will be responsible to look after their own portion of the area.
Jerry | Mortgage Station
http://mortgagestation.com.au/
Email Me | Phone MeFinance Strategist - Active Investor - Serving clients Australia-wide - Based in Sydney / Melbourne
Depends on what is in the lease.
So if you own the whole building, you are the body corporate and will be responsible for such costs?
Scott No Mates: is there a circumstance where the tenants would be required to contribute to the upkeep of common areas which would be detailed in the lease? Using the above example of a small office block. Support the driveway to the car park needed resurfacing. Would it be a possibility that these costs would be chargeable to the tenants under the lease they have signed?
Mike
Email MeIn some cases a net lease will require contributions to repairs and maintenance but in all cases excluding replacement, structural repair or upgrades. Eg. Repairs to leaking fittings, air conditioning service etc.
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This reply was modified 8 years, 1 month ago by
Scott No Mates.
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This reply was modified 8 years, 1 month ago by
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