If you're looking for Gold Coast property, you'd be wise to consider the many strata options available. Over 16,000 people in Surfers Paradise live in apartments, and across the country 78 per cent of dwellings are classified as such.
What are some of the benefits of moving to strata living?
One of the great things about buildings with communal access is that they sometimes come with a raft of facilities that occupants would struggle to afford on their own. As a strata dweller you may find yourself with access to a gym, pool, garden or games room. The cost is often incorporated into your rent or levy fee and, depending on the facilities offered, can represent significant savings. Compared to gym memberships, building the facilities into your home, or buying a detached property with a garden or pool, your maintenance contribution is likely to be minimal.
Large strata developments often come with their own property management company and assigned caretaker. The management team will deal with building maintenance and communal grounds – for example, looking after pipes and gutters, mowing the lawn and general landscaping. In areas such as the pool or gym, the caretaker will ensure they are adequately cleaned and deal with any equipment issues as they arise. All you have to do is make good use of them.
If you own the apartment you live in, you'll be responsible for maintenance within it. The specifics of exactly what is down to you can vary across agreements, but at the very least redecorating and correcting internal damage will be your responsibility.
While strata living can't free you from neighbourly disputes, you will have access to the owners corporation. Whenever a subdivided property contains common property, a corporation is automatically formed. If you are an owner, you are naturally a member of the corporation.
Responsibilities are varied, including ensuring maintenance arrangements are in place and managing finances. However, they can help resolve any disputes between members of the corporation and enforce agreed rules. A member can lodge a complaint with the corporation who will then follow their agreed procedures to resolve the issue.
Some owners corporations manage the building themselves, while others outsource to a professional property manager, who are usually experts in the complexities of strata legislation.
Start the hunt for your perfect Gold Coast strata apartment now. Contact Ray White Surfers Paradise today to work with the experts.