Insuring a house or apartment: what's the...
When it comes to choosing an insurance policy for your apartment or house, it’s rarely a case of one-size-fits-all. While apartment complexes and houses often exist side-by-side, there are...
A strata plan is a legal document that outlines the division of ownership in a strata scheme property.
A strata plan is a legal document that outlines the division of ownership in a strata scheme property. It shows how each owner in the scheme owns their individual unit or apartment, as well as a share of common areas like corridors, elevators, and gardens. Strata plans typically pertain to properties such as apartments, townhouses, or commercial spaces.
You can find your relevant strata plan through your state's respective land registry service. In states such as NSW, the NSW Land Registry Services is responsible for managing and maintaining strata plan records.
You can access public information about any strata scheme in the state using the NSW Government's online strata search tool. This tool allows you to find details such as the number of lots in a scheme and the date the scheme was registered.
Strata fees can vary widely depending on several factors such as the location, size, age, and amenities of the property, as well as the services provided by the strata management company.
In states such as NSW, strata complexes with amenities typically have fees ranging from 0.8% to 1.2% of the property's value.
Compare your property to recent sales in the area to get a current market estimate.
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