323. What’s so scary about 2-lot strata plans?
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I’m sharing 4 must-know facts about 2-lot strata plans, relevant to:
– voting
– insurance
– repairs and maintenance
– strata committees
Links mentioned:
- Get the transcript here!
- Section 160 – Owners corporation to insure building – Strata Schemes Management Act 2015 (NSW)
- Section 74 – Capital works fund – Strata Schemes Management Act 2015 (NSW)
- Section 80 – Owners corporation to prepare 10-year capital works fund plan
- Your Strata Property Podcasts
- 2 lot schemes shifting responsibility by-law template
- Section 30 – Members of strata committee
Thanks Amanda!
I believe that there is an advantage of owning a Home in a 2 Lots strata scheme instead of 100 Lots. You don’t need to engage an auditor that only checks for invoices presented to him/her instead of being able to check that the work was done.
At the moment is very scary to own a Home in a strata scheme because we do not have support from Fair Trading and when we need urgent repairs on our strata schemes is like going to a merry go round so nothing is done about the problem.
There is a very simple solution to the problem Fair Trading should make the ruling that the work needs to be done
Recommend the people who are qualified to do the work
The price we should be paying.
Hi Amanda,
In an established (over 50 years) 2 lots strata scheme that has equal 50/50 UOE, is it difficult to then change the current UOE based on current values of each property where 1 property is worth a lot more than other ?
Is it possible to contest established UOE & have this changed ?
Hi Matt, in NSW, an order of the Tribunal is necessary. See section 236, Strata Schemes Management Act.
I’m assisting many owners in 2-lot schemes inside my online membership community. There are certainly some unique issues to navigate.
I hope you too can join us. More info over here: http://www.stratamembership.com
Amanda.
Hi
I’ve become completely confused about 2 lot scheme requirements, checking the current legislation it appears that 2 lot schemes appear to have been removed as a separate section.
in particulr, how do you manage to ensure compliance with by-laws? I have a horror Neighbour who is persistently breaching by-laws and causing significant damage, as well as nuisance / harassment.
Im trying to get strata building insurance to cover JOINED duplexes with basement in our common property. GIO said they wont cover individual plunge pools in each of our back yards until I can advise them if its the strata laws NSW body Corps legal responsibility to cover these pool. Both pools have been registered by the council, have compliance certificates and glass fencing around both pools which are located in our back yards. We are have registered our strata plan
Do you know if pools are cover under 2 lot strata schemes in NSW
Thank you
Hi Julie,
I am sending this message on behalf of Amanda Farmer.
Due to the overwhelming demand for Amanda’s services, she is no longer able to personally respond to every comment posted on the public side of the website.
The best way to seek Amanda’s guidance is either:
(a) inside the members-only QandA Forum, enjoyed by paying members of our online community. Membership is just $79/month with no lock-in. Your instant access is here: http://www.stratamembership.com; or
(b) engaging Amanda as your lawyer, via her legal practice Lawyers Chambers. Amanda’s hourly rate for one-on-one legal services is $750 plus GST. You can make contact with Amanda’s practice to check her availability by emailing enquiries@lawyerschambers.com.au.
– Romina, YSP Team