[SMIG]

I am sure this will get a laugh. When I contacted the NSW Dept Of Fair Trading about this matter their advice was that the wording of the Act was such that it means that it is the responsibility of the OWNER of the Lot to advise the Strata of the mortgagee’s details by completing a Section 118 Notice. As owners are not aware of all the necessary legal steps to be done during settlement of their purchase, they employ a Solicitor or Conveyancer to do those things for them. But my research with various legal bodies within those fields has failed to confirm or identify exactly whose responsibility it is – each one passes the buck saying that it is the duty of another party, not them.

When will government legislation be written so that it properly covers all matters involved and details whose responsibility things are rather than just saying what is needed? GRRRRRRR

[SMIG]

After self-managing my small scheme (8 lots) for many years now I have seen us go from needing special levies regularly to make necessary repairs and maintenance (when we had Strata Managers who we THOUGHT would have budgeted effectively) to a position now where we are actually looking for things to spend our levies on. In the past 15 years our levies have risen by less than 50% in total which is negligible considering the inflation of costs over that period.

 

The time and effort involved is not the only thing to consider (not that it really takes up that much time or effort). What should also be considered is the increased level of “friendliness” between owners because work is done when needed (or sometimes even before) rather than conflicts arising because someone has their problem addressed but others don’t.

 

Since we started self-managing I have found that owners are more receptive to what is needed because they are more mindful of the fact that their property is an investment in their future and it needs to be properly protected and maintained. Their interest is therefore much greater and they are also more willing to help (both the Strata and their fellow residents) when needed. We are now a much friendlier and co-operative community.

[SMIG]

Thanks for the advice guys. One thing I forgot to ask is whether this resolution needs to be made each year or can it be made as a permanent “rule”.

 

“Whale” has mentioned that this would be a “Special By-Law”. Does this mean that it is a new by-law that needs to be registered to make it enforceable?

[Author]

Replies