How are units valued when selling a strata scheme to a developer if one owner holds 93% of unit entitlement?
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I own 93% of the unit entitlement in a small Queensland block. Major work is required to repair the building, and the cost is out of the question.
If we close down the body corporate and sell the land to a developer, how is each unit valued? Will it be by unit entitlement, or must we have all the units valued separately and the land valued as a redevelopment site?
This will only relate to the minor stakeholder who currently has seven per cent of the units of entitlement.
Rising Inflation Issues for Australian Strata Schemes
Given the recent spike in inflation (CPI) at a national level, combined with the immense surge in the price of building related materials and labour, should committees be ensuring that their 10 year plans reflect these increases?
How often should a committee focus on getting their 10 year maintenance plans revised?
Our 1960s strata block has never had an asbestos report
Our 1968 block of 10 single story units have never had an asbestos report. We believe the eaves of each unit might be asbestos.
With no common area structures, is the owners corporation responsible? Can they compel unit holders to have a report and remedy any issues? If this is not investigated, does it impact our owners corporation insurance?
Does our Owners Corporation Need Fidelity Insurance?
Does an owners corporation in NSW managed by a Strata Management Agency need Fidelity Insurance as part of their Policy? Our Strata Manager has informed us that as they are a licensed Manager, we are covered by the NSW Government. The Dept of Fair Trading says this is correct per Part 5 Insurance of the Strata Schemes Management Act 2015.
Tenants in our strata complex are running a short-stay business. We have a by-law prohibiting Airbnb. What can we do?
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Tenants at our complex of 10 lots have an obvious couch-surfing short-stay business. An extra 2 or 3 vehicles are regularly parked at the complex or on the street verge for a few days or up to a few weeks. Many of the vehicles have interstate plates.
Our complex has a by-law prohibiting Airbnb. However, the tenants are the hosts, and the owners may not be aware of the activity. Is the strata company or the council of owners are able to change this situation?
A visitor is charging his EV from common property power via a point the committee allowed him to install — is this decision lawful?
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Regarding the article on EV charging in garage GPOs on page 12 of The Queensland Strata Magazine (March 2025 edition), I'm seeking clarification on a common situation in older buildings. If an individual garage already has a body corporate supplied GPO used for general purposes, does the article suggest that a by-law could be introduced to mandate charging the owner for all power used from this existing GPO?