Hi – I hold a strata unit in QLD and it looks like there is a care taking agreement in place for 25 years. I will put my hand up and admit that this was my first investment property and I did not realise this at the time amongst the thousands of other papers in front of me.
I believe the amount paid for this service is excessive so trying to find a way out. It looks like 25 years is the maximum so I'm stuck until then. Does this sound right?
The contract does say the caretaker's lot is "Lot 14" which is know is owned by someone else on the committee and they know nothing of this. It's rented privately. Could this be a breach of contract if they were not and never were in Lot 14?
Any tips would be appreciated.
Thankyou for your help,
LukeHi Luke,
I assume you are referring to strata management rather than property management. On this basis.
Having seen this sort of 'arrangement' before whereby the developer often sells the strata management rights off the plan with a long term contract in place.
I am sure the strata management contract is pretty much water tight and you may well be clutching at straws. My advice is to learn the strata management regs in Qld and use this knowledge to support your case.
You may even find your frustrations are echoed by other investors in the complex so you will need to attend strata meetings, get to know other investors and when the time is right get a place on BC management committee. If there is a swell of numbers legal advice should be sought as getting it wrong may be expensive. Good legal advice should be sought.
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