There’s a disturbing story on the Forum this week. One owner in a small block has been gradually buying up apartments until he has a majority of unit entitlements in the block.
He then holds an AGM at which he elects himself – and only himself – to the committee. He then proceeds to neglect the building to the point where it is seriously deteriorating.
When the other owners, watching their property values plummet, threaten to take him to NCAT to force him to maintain and repair common property, he does a 180 pivot and says he will fix the building from top to bottom, using contractors who will be paid top dollar for their work (presumably including healthy kickbacks).
The other owners are now faced with massive special levies that they can’t afford. That’s OK, says the majority owner, I will buy the apartments off you – at knock-down prices, of course.
Apart from this Robber Baron being the lowest lifeform in strata, what can the ordinary owners, who are in the minority, do? That’s HERE.
Elsewhere on the Forum
- Why committees and need to talk to potential buyers. That’s HERE.
- Fur flies over new tenants’ pets laws. That’s HERE.
FORUM UPDATES:
- Who’s liable for waterproofing in a townhouse bathroom? That’s HERE.
- NCAT ruling on owner who complained about intrusive lighting. That’s HERE.
- What happens if strata committee refuses to repair common property damage. That’s HERE.
- Damage cause by owners corp ignoring reported faults. That’s HERE.
- Developer dragging feet over defects. That’s HERE.
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› Flat Chat Strata Forum › Current Page
Forum: Majority owner forcing sales, tenant pet laws concerns, talking to potential buyers, waterproofing in a townhouse bathroom, intrusive lighting result.
[See the full post at: Forum: One-man-band squeezes minority to sell]
The opinions offered in these Forum posts and replies are not intended to be taken as legal advice. Readers with serious issues should consult experienced strata lawyers.
› Flat Chat Strata Forum › Current Page
› Flat Chat Strata Forum › Current Page