Most units and townhouses share common areas with the other units; the walls, stairwells, driveways, gardens and lawns (the common property). To allow for the property maintenance and care of the common property the units and townhouses are registered as strata plan. All the common property in a strata plan is owned by the “Owners Corporation”.
If you buy a unit or townhouse in a strata plan you are entitled to use the space between the walls in your particular unit and are also allocated votes in the Owners Corporation. The number of votes which you are entitled to will depend on the size of your unit in relation to the remainder of the property – the more units in the strata plan the smaller your vote in the Owners Corporation.
The Owners Corporation is responsible for the harmony of the strata plan and the maintenance of the common property (unless a by-law is passed to provide otherwise). To pay for the maintenance of the common property the Owners Corporation issues strata levies to the owners of the units. We recommend that a strata report is ordered prior to purchasing any strata property to see the history of the Owners Corporation and the strata levies. keira conveyancing clients obtain prompt strata reports ordered through an independent strata inspector.