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With consumer confidence in brand-new or off-the-plan apartments taking a hit after the Opal Tower crisis in Sydney, where massive cracks started appearing in supporting walls on Christmas Eve, many potential purchasers are turning to new but established apartment blocks as a safer option.
Basically, you want a well-managed building: everything else flows from that. But how do you …
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This is a recurring theme and a good one .I have been involved in strata committees as an owner for many years and have as a lawyer acted for many purchasers in strata.One of the standard headings in the usual pre purchase strata inspection report is
“state of harmony in the building “.
A well functioning strata committee will usually mean the answer to this question is the state of harnony is good.
Which brings me to a topic dear to Flatchat’s heart – Airbnb.
Mostly committee members are made up of owner occupiers.I believe that new owner occupiers will shy away from apartment blocks that allow Airbnb in investment apartments if and when the changes to the law announced last year ( but not yet commenced ) come into effect .
I also believe that over time owner occupiers who can will move out of apartment blocks that allow short term rentals such as Airbnb.
What has been lost in the debate about people’s “ rights “ to rent our their apartments on Airbnb ( which is in fact mostly prohibited under current planning laws) is this simple fact.
Owner occupiers are the heart and soul of strata committees and if they vote with their feet , the remaining owners may find their “ quasi hotels” less attractive to buyers .
Sure an owner has a right to rent to let his lot. But equally surely a majority of owners of the common property have a right to say who can use their common property and how it can be used? Or are “rights” just a one way street?
…But equally surely a majority of owners of the common property have a right to say who can use their common property and how it can be used? …
Every resident has the same rights and obligations over common property, owner or tenant. The owners corporation, that is, all the owners at a general meeting, can pass valid rules/by-laws or house rules about what constitutes reasonable use and enjoyment of the common property. All can use and enjoy the common property, so long as they do not unreasonably interfere with the reasonable use and enjoyment of the common property by other residents.