New school ideas have changed the scenario of investing in properties. There was once the time when investing in lucrative properties had been limited to a certain rich fraction of society. But the paradigms have changed significantly. There are certain new schemes of investment that has facilitated even the middle class to take benefits of investing in property. Strata title concept, to be precise is the popular making sensation in Sydney. The concept is now popular worldwide but finds its roots in Australia. Strata title ownership lets you hold small blocks of property without having to invest beyond your capacity. This concept is devised for multi level apartment or blocks, or horizontal sub divisions. The concept is much broader under law of Australia where a single unit can be divided into strata titles as well. The concept was primarily introduced better cope with legal ownership of apartment blocks. Before strata concept, company title was the only method which had a number of defects such as instituting mortgages. Strata management companies have a major role to play under strata scheme. Strata manager does all the compliance, record keeping and takes responsibility of maintenance and other tasks conducted in common property. Common property means property whose title is held jointly by all individual strata title holders such as stairs. Here are a couple of reasons of importance of a strata manager:
- Strata management in Parramatta has the concept of employing dynamic professionals who take care of your overall property management needs.
- Strata manager is aware of legal obligations
- He is important bring harmony and co-operation among strata title holders
- He is the one who maintains common property in a strata scheme properties
- A strata manager is a property manager as well who can manage your whole portfolio of properties for a nominal fee and relieve you from dealing with procedures, compliances and tenants.
- He formulates a set of rules binding on every strata title holder known as bye laws.