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Living in a strata scheme
 
You may or may not have heard of a strata scheme before buying or renting a property. But do you know what it means to live in or own property in a strata scheme? Strata schemes exist where there are units or townhouses in a complex, not just freestanding homes. Basically these are small communities which are affected by how you conduct yourself on the premises with activities or attitudes. These actions can directly affect the other residents in the strata scheme and their enjoyment in their place of residence. For this reason, you should make yourself aware of obligations and responsibilities when living in or owning a strata unit.

Living in strata scheme real estate Sydney can be a great way to be part of your own small community that is friendly and enjoyable. You are effectively sharing your home area with others, such as common property, so it will not be just like living in a freestanding home. For this reason it is natural that there are restrictions to the way you do some things in a strata scheme. For example, there are rules about where your car can be parked; where you can hang your washing and rules regarding how and when renovations can be done. There are also certain rules about pets and whether or not they can be kept on the premises. Knowing what is required when living or owning in a strata scheme ahead of time will ensure less disputes in the future.

The owner of the unit or apartment also has shared responsibility and ownership for the common property in the complex such as gardens, swimming pools and driveways. Owners are members of the owners corporation and will be required to contribute to the cost of running the building and also to the sinking fund which is for future expenses that may occur. This can be anything from replacing guttering or repainting the building. It is important to note that this type of living brings together people from all walks of life with different backgrounds and interests. It is not unusual for disputes to happen and ideally this can be sorted amongst the parties involved. However if required, mediation can take place if the parties involved can not address the issue themselves and there are forms that can be accessed to request a structured mediation.

Whether you are wishing to buy or rent Macarthur in a strata scheme, discuss any queries you have with your property management Campbelltown team. The best way to avoid problems is to know what is expected of you first.