If you are new to living in an Owners Corporation, you may be wondering what your role as a Lot Owner involves.
The team at SSKB have broken down your responsibilities into 4 points:
- Ensuring your contact details are up-to-date on the Owners Corporation Register
- Maintain your lot
- Paying Contributions
- Living together and abiding by the rules
1. Ensuring your contact details are up-to-date on the Owners Corporation Register
All Owners Corporations with more than two lots must establish and maintain an Owners Corporation register.
When you move into a Strata Scheme, it is important you provide the Owners Corporation with the relevant details to be added to the roll.
2. Maintain your lot
Owners should understand their responsibility for maintaining certain parts of the scheme. To check who is responsible for what, a good place to start is to look at your Owners Corporation’s Plan of Subdivision where you can locate the boundary of your lot. If you are uncertain, please don’t hesitate to reach out to your Owners Corporation Manager.
3. Paying Contributions
As an Owner in a Strata scheme, you will be required to contribute both annual and any special fees as set by the Owners Corporation.
The annual fees cover general administration, insurance, maintenance, and other ongoing costs. Your share of annual fees is set according to your lot liability. Your lot liability represents the share of the Owners Corporation’s expenses that each Lot Owner is required to pay.
Special fees cover extraordinary or unexpected expenditure (e.g. urgent repairs to the building). Special fees are charged to Lot Owners according to their lot liability.
Payment of your contributions
For your convenience, SSKB provides several payment methods for your contributions. Please refer to the bottom of your fee notice for payment options. You can also pay online or via the SSKB app. Download the app or go to the SSKB Portal at www.sskb.com.au and log in.
4. Living together
The behavior of Owners and Occupiers in Strata schemes is regulated by the general law. However, each scheme has some specific regulations for behavior.
Owners Corporation rules
To ensure you comply with the rules for your scheme, it is important that you obtain a copy of the Owners Corporation’s Model Rules and any additional Rules registered for your property.
If you have any concerns regarding breaches of the rules you should reach out to your Owners Corporation Manager or your Owners Corporation Committee.
If you are not a client of SSKB or would like to know more about your role as a Lot Owner, click here.