While strata property offers affordable investment or living opportunities, buying a strata property requires you to obtain both proper legal advice and a detailed strata inspection report. Without properly investigating your strata property prior to purchase, you may end up acquiring an apartment in a building that is not harmonious, pay unforeseen expenses and miss out on vital information about the strata scheme.
On 5 November 2015, new strata legislation was introduced in New South Wales. The strata reforms cover areas such as the rules about keeping pets, parking, smoking, management, defects and introduce a new procedure for renewal of strata buildings.
If you are interested in buying a strata unit or you already own a unit and require advice about the management of the scheme, please contact the team at Jenkins Legal to obtain proper legal advice and to check how the new strata legislation applies to your property. You may find the following article of interest: