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To TrulEConcern
(1) I am of the opinion that if the balcony is a slab type balcony, even if it is on the Title of apartment 5, it is still the OC’s responsibility to maintain. This is because the structure of the building includes the structural slab of the balcony.
(2) It is obviously a defective balcony if it is leaking. It doesn’t matter particularly, at this stage, why it is leaking the fact is that it must be fixed by the OC. The OC has a duty to do so (Section 62 Strata Schemes Management Act 1996).
(3) Please be aware that the OC can still be responsible for the maintenance and repair of certain common property elements within the boundary of a Lot Owner’s Title. I have listed these (from the Office of Fair Trading web site) in a previous comment
(4) Please read this summary of a very important 2013 decision regarding Section 62 and claim for damages. It may assist you with the claim for rent relief and inconvenience:
https://casenotes.curwoods.com.au/?p=2361
You might also like to read the Seiwa case, an older case, which dealt with a defective balcony in a Strata scheme: https://www.managementrightsnsw.com.au/files/9413/5777/7188/An_Important_Warning_For_Owners_Corporations_in_NSW.pdf
And a comparison between the two cases and their ramifications here: https://www.lookupstrata.com.au/important-new-case-repairs-maintenance/
(5) See also strata and landlord insurance definitions of what makes a property inhabitable or habitable when repairs and maintenance are undertaken by the OC: