Strata Titling

Discussion in 'Investment Strategy' started by hillsguy, 31st Aug, 2019.

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  1. hillsguy

    hillsguy Well-Known Member

    Joined:
    25th Aug, 2015
    Posts:
    498
    Location:
    Adelaide
    Hi all, interested in knowing if anyone has purchased block of units and gone through process of strata titling in QLD or NSW and then selling units individually ?

    Few key questions -

    1. Who do you engage to see if it's actual feasible to strata title pre purchase ?
    2. Can you make above a condition of sale ? In other words ... if I can't strata title I will not purchase ?
    3. Are there signficant higher costs relative to non-strata given agency now needs to setup / manage ?
    4. Would you do it again ?

    Thanks folks ! Hopefully we can get a good thread going here.
     
  2. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    27,041
    Location:
    Sydney or NSW or Australia
    1. BCA consulatant & town planner should be able to provide guidance on what you will need to do to bring the building up to code (BCA) - this may be a large fire safety upgrade eg: fire doors & jambs, exit/emergency lighting, FHR etc, separation of water/gas supplies
    2. Subject to DA?
    3. At present rates & water are single bills (possibly land tax too), these will become one for each unit plus an additional one for the common areas - councils do have a minimum charge so it will be 5 x minimum rates amount, Sydney Water will probably jump to 5 supply charges + usage
    4. TBA
     
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