3 pros and cons of strata management in Sydney
Owning a strata property involves multiple responsibilities. Also, you need to follow the administrative guidelines over Strata title Act. Otherwise, you may face lawful hurdles later!
Strata also provide various efficient benefits! Let’s talk about the three precise PROS and CONS of strata proprietorship below!
Pros of buying strata properties:
1. Abundant lifestyle amenities, benefits of property maintenance outsourcing.
2. Strata properties in apartments and buildings cost lesser than Torrens title properties. That’s why; you can easily invest in strata properties.
3. Selling strata building units are also easier because they have a balanced and consistent demand in the property markets.
Cons of buying strata properties:
1. As strata properties are shared lots, you cannot make any physical change without the owner’s corporation permit. Sometimes, it may lead to disagreement with fellow lot owners.
2. Strata prices are subjective and sometimes go higher. They mostly increased as the building aged.
3. Being a fellow strata owner with other tenants & proprietors brings multiple responsibilities. This may be complex and hard to manage if you are a busy person. The only solution in this situation is to hire a strata manager or specialists.
To put it simply,
Owning strata properties have various advantages and disadvantages. That’s why, do your research well, plan precisely, and set your budget before buying a strata lot. Also, keep the above things in mind that you may need to face during the period of strata management in Sydney.
Posted by Anonymous