If I own both lots in a two-lot strata scheme, is the duplex exempt from requiring a capital works fund?
I own both lots in a two-lot strata scheme. The buildings are physically detached, and there are no other buildings or parts of buildings, except for a shared concrete driveway, outside of the lots. Is a scheme like this exempt from requiring a capital works fund?
You appear to meet the exemption criteria.
Yes, as you appear to meet the exemption criteria:
- the owners corporation so determines by unanimous resolution (as you own both lots, you will have no issue)
- the buildings comprised in one of those lots are physically detached from the buildings comprised in the other lot, and
- no building or part of a building in the strata scheme is situated outside those lots.
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Leanne is leading the conversation in strata and community management across Australia. With a distinguished career spanning over 25 years and holding credentials as a licensed Strata and Community Manager and Real Estate Managing Agent, Leanne has masterfully redefined the essence of premium strata service. Her approach, honed through years in senior roles within top-tier agencies, is unwaveringly client-focused, ensuring that expectations are not only met but consistently exceeded.
As a pivotal member of the Strata Community Association (SCA) and the CEO of the award-winning Premium Strata, Leanne, together with her team of seasoned strata managers, embodies a commitment to unparalleled service excellence. Beyond steering Premium Strata and Premium Building Management, her influence extends across the property industry as a leading voice. Leanne's insights on legislative updates and industry shifts are invaluable, offering guidance to lot owners on intricate strata matters and fostering effective and informed strata management practices.
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