In some ways, owning an apartment or townhouse is less complicated than owning a house. Your lot or unit is smaller and easier to maintain, and you probably don’t have full responsibility for things such as sidewalks, driveways, and stairwells because those areas are shared among all the unit or lot owners in the development. However, the presence of these common areas can also create a very complicated situation without the right strata title management for your Brisbane property.
How Strata Titles Work
The term ‘strata title’ refers to a type of property title that dictates ownership of both private and shared spaces. This kind of title is often used in apartment buildings, townhouse developments or even residential subdivisions with shared areas. The shared spaces are the common denominator here. Strata titles must stipulate that each unit or lot owner also shares partial ownership of the common area, as well as providing legal documentation of the person’s private property ownership.
In most cases, properties with strata titles must also have strata title managers. (At Matthews Real Estate, we provide strata title management services in Brisbane.) These individuals manage the body corporate, which is the legal entity that owns, controls, and maintains the shared parts of the property. In essence, it is the body corporate’s job to ensure that each strata title holder shares equal ownership of (and equal responsibility for) common areas such as sidewalks and driveways.
If you are a strata title holder in Brisbane, you have two primary choices. First, you can opt to self-manage your own body corporate, alongside your fellow title holders. Second, you can choose to appoint a professional team of strata title managers in Brisbane, to handle the responsibilities on behalf of yourself and the other unit or lot owners.
It is entirely legal for property owners to self-manage their own body corporates. This process involves electing people to play specific roles within the legal structure of the entity (such as chairperson, secretary and treasurer), as well as several officers. Even if you opt to engage a professional for body corporate management services in Brisbane, you will still have to elect this committee, as it helps to protect the interests of the property owners.
With that said, self-managed body corporates often devolve into problems over owner-versus-owner disputes, messy record keeping and just general confusion about what needs to be done. A body corporate manager is useful for avoiding these pitfalls. By pursuing strata management services from Brisbane’s Matthews Real Estate, you can take advantage of our nearly 40 years of industry experience. This experience will help ‘steer the ship,’ as it were, avoiding confusion and disputes and taking some of the responsibility off your shoulders.
If you are weighing the pros and cons of self-managed body corporates versus hiring a team of strata title managers in Brisbane, feel free to give us a call at Matthews Real Estate. We would be happy to have a more in-depth conversation about body corporate responsibilities and how we can help ease the pressure somewhat. To get in touch, call us on 07 3848 0655.