Hi All,
For those of you that have been lucky (un lucky?[cap]) to purchase standalone flats or units can you answer some questions I have regarding strata titles?
1. What exactly is strata titles and how does it work.
2. If I wanted to sell off one or two units in a small complex then would I have to provide seperate water and electricle meters?
3. If you wanted to purchase a block of units are seperate water/electical meters something you would look for?
4. As an aside question. Do tenants in QLD pay for water bill or does landlord?Thanks in Advance.[biggrin]
You will always miss 100% of the shots you don’t take!
Hello,
1. Strata titles are single units, apartments in a block, whatever, that are treated as seperate units, apartments etc. If you have a block of 10 units that aren’t strata, they are treated as one property. If they were strata they would be treated as 10 properties.
2. You could only do this is they were strata. A strata block has all units on their own electrical and water meters. Non strata has a master meter usually just for water though. If you see a rental ad that says landlord pays water, you will be renting a non strata place.
3. No, you would simply ask the agent if the block is strata titled.
4. In qld tenant pays water bill if living in a strata property, if not landlord does because the master meter counts the whole blocks use of water, not each separate unit.
I hope that has helped.
PS- A few have made money buying a block, lets say 10 apartments, that aren’t strata titled for say $1M and then strata titled them and sold each unit for $125k each. Bear in my mind strata titling can be very complex and costly. Good Luck. G7
Thanks G7
You will always miss 100% of the shots you don’t take!
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