Where Do Your Strata Levies Go?
For many owners, strata levies can feel like just another bill to pay. But understanding how these funds are used helps reveal the real value they provide. Levies aren’t just expenses — they are what keep the building operating smoothly, the common areas maintained, and property values protected. Levies are usually divided into several key categories, each with its own purpose. […]
Planning for the Future: Why Your Strata Needs a Sinking Fund Forecast
One of the most valuable tools a strata community can have is a Sinking Fund Forecast. This document acts as a roadmap for the future, outlining what work needs to be done, when it should happen, and how much it is likely to cost. A well-prepared plan usually covers major works such as roof repairs, […]
The Difference Between the Administrative Fund and the Sinking Fund
Every strata community relies on two main funds to operate effectively: the Administrative Fund and the Sinking Fund. They serve different purposes, but both are essential in keeping a scheme financially healthy. The Administrative Fund: Covering Day-to-Day Costs The Administrative Fund is the community’s everyday account. It pays for routine, short-term expenses that keep the […]
Understanding Strata Management vs. Committee Responsibilities
What a Strata Management Company Does A strata management company—sometimes called a “body corporate manager” or “strata managing agent”—provides professional support to your body corporate. Their role is administrative, operational, and supportive, working under the direction of the body corporate committee, but they do not make decisions on behalf of the owners. Typical responsibilities include: […]
What Requires Committee Approval?
Living in a strata (body corporate) environment means shared governance and communal infrastructure. Any changes—whether to your private lot or to areas shared by all—may require formal approval. Here’s a clear breakdown of when approval is needed: 1. Renovations & Alterations 2. Changes Affecting Common Property Any alteration that impacts common property—such as balconies, external […]
What Requires Owners Corporation Approval Under the 2025 Reforms?
As of 1 July 2025, new reforms in New South Wales have reshaped how owners corporations manage approvals, particularly for renovations, accessibility, and sustainability upgrades. 1. Automatic Approval for Minor Renovations If the owners corporation doesn’t provide written reasons for refusing a minor renovation request within three months, it is automatically deemed approved—provided the rules […]
Understanding Limitation Periods for Building Defects in Victoria
For Victorian Owners Corporations and lot owners, knowing the time limits for pursuing building defect claims is critical. These deadlines, known as limitation periods, determine whether your claim can even be heard. Missing one could mean losing the ability to recover the costs of rectification entirely. Here’s what every committee and strata community should be […]
Buying and Selling in Strata Schemes: What You Need to Know
Strata living in New South Wales offers the benefits of convenience, shared facilities, and community living — but it also brings specific responsibilities. Whether you’re considering purchasing your first strata home or selling an existing one, it’s important to be across how the process differs from that of standalone properties. Here’s a simple breakdown of […]
Buying and Selling in Strata Schemes: What You Need to Know
Strata living in Victoria offers shared amenities, community-focused living, and streamlined maintenance — but it also introduces unique responsibilities. Whether you’re purchasing or selling, understanding how strata differs from standalone properties is key. Here’s a simple guide tailored for the Victorian context. Buying in a Strata Scheme Buying a strata property means you’re becoming part […]
Renovating in a Strata Scheme: What You Need to Know
Renovating within a New South Wales strata scheme is different from renovating a standalone house. Since you’re part of a shared community with collective ownership of common areas, there are specific by-laws and approval processes in place to protect the building, your neighbours, and your investment. Whether you’re an owner looking to upgrade your lot, […]