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Question – Are there disadvantages in changing ownership of windows to each ‘Property owner’, instead of the current ‘Common Property’ ownership?
Background – A By law to change ownership of unit windows from ‘Common Property’ to ‘Property Owner’ is currently being considered. If By law is introduced, owners would each pay for proposed new windows (according to lot entitlements), then be responsible for maintenance/replacement cost of their own windows in future.
My understanding of situation – If windows are ‘Common Property’ owned, costs to maintain/replace windows are shared fairly by owners according to lot entitlements.
If windows are ‘Property owner’ owned, the owners cost to maintain/replace may differ amongst the owners. Some may pay a little, others may pay a lot more (ie. some windows may degrade quicker due to high sun/rain exposure).
I look forward to receiving input on this matter
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