NSW Strata is governed by the Strata Schemes Management Act 2015
Living in a NSW strata scheme means:
- you own your unit or apartment as well as sharing ownership and responsibility for common property
- if you own your unit, you are automatically a member of the owners corporation which has responsibility for common property and makes key decisions affecting the strata scheme
- you contribute to the cost of running the building through paying quarterly levies
- you also have to pay money into a capital works fund, for future long term expenses such as painting the building or replacing guttering
- there will be lifestyle restrictions in a strata scheme.
The Strataville editorial team aim to provide our readers with clear and concise NSW Strata content including articles, strata news, government and industry body information, interviews, reviews, podcasts, videos – and more.
Have a question? Please drop us an email today at email@example.com