Just read this article: http://news.domain.com.au/domain/re...ent-residents-and-owners-20150716-gidvtv.html For Apartment/unit owners.
security of tenure for owner occupiers would be a factor for some. no one would like to be forced to sell and move. often the value is in the land so can see why developers want it.
Illegal brothels thriving in $300m Haymarket development The QuayWonder whether it has something to do with this? Not so long ago Queensland is the leader in Strata & Body Corporate industry, mainly attributed to Gold Coast. Looks like NSW is taking over. Still baffles me that Strata / Body Corporate Managers are not regulated. The amounts they are handling are huge but not even required to hold a Trust Account.
"The proliferation of sex workers has some owners concerned about the value of their apartments. But the City of Sydney Council says as long as there are only two sex workers per room, in line with NSW law, there’s no problem." OMG!
Gockie, I dont want to state the bleeding obvious, but there's a lot of rooms in those 20+ storey buildings that are being built left, right and centre all over Sydney. Which, if nothing else, could lead to NCAT suffering some constipation (and I mean that in the nicest possible way...) with many Bylaw 1 noise complaints from other owners in said buildings. Not to mention lack of BAS submissions to the ATO for GST remittances...
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