NSW: Q&A Monitoring the Owners Corporation During Strata Purchase

NSW: Q&A Monitoring the Owners Corporation During Strata Purchase

  Question: When a strata property is sold, who is responsible for updating the strata ownership records? Is it the vendor or the purchaser’s responsibility? Answer: This is both the vendor’s and the purchaser’s responsibility. This is both the vendor’s and the purchaser’s responsibility. During the conveyancing process a “strata interest notice” pursuant to Strata Schemes…

NSW: Q&A How do we Deal with Strata Manager Complaints and Bullying?

NSW: Q&A How do we Deal with Strata Manager Complaints and Bullying?

  Question: If the strata manager gives incorrect advice causing a monetary loss to the owners corporation, what remedy is available to the OC? Answer: The type and quantum of liability of the managing agent is limited. Generally, the strata management agency agreement between the Strata Management Agency and Owners Corporation will set out the liability of…