Down sized from a house to an apartment? It’s time to learn the nuances of strata.

Congratulations!

You may have downsized but you certainly haven’t downgraded. Strata living comes with many lifestyle benefits but it’s ultimately different from managing a house.

Understand what is yours and what isn’t

In most cases, the internal paint defines the barrier between strata and individual lot owner responsibility. Of course, it’s possible that an issue outside of said paint line is impacting your lot. As such, you’ll need to arrange repairs through your strata manager for issues such as:

• Anything in the floor below your carpets, tiles, floorboards or other flooring material,

• Plumbing, electrical and internet wiring in the external walls,

• Anything beyond the ceiling - i.e leaks, ducting or electrical issues,

• Balconies and balcony doors.

If you are unsure, contact your strata manager for clarification.

Review the by laws

Each strata building is governed by state based laws applying to all strata schemes in that state. In addition, an individual strata scheme can have individual rules called by laws. If you didn’t receive a copy of these when buying into the scheme, contact your strata manager for a copy.

Know where your levies are going?

Levies are most often billed quarterly and contribute to the upkeep of the building. As an owner, you are able to access a copy of the financials. Money paid for operating expenses (i.e. cleaning, gardening) comes out of the administration fund whilst funds for future major expenses (i.e. repainting) come from a capital works or sinking fund. Key an eye on the balances of these funds as they determine what is feasible for your strata scheme.

Take part in your strata community

In essence, a strata community is the smallest form of civic democracy. Important decisions that involve your strata scheme will be made in a meeting of the owners where motions are decided via a simple majority vote. If you want to support your strata community further, nominate yourself to join the strata committee at the next Annual General Meeting.