Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

About strata title management

By Chris Whelan Subscribe to RSS | February 24th 2012 | Views:
loading
 
  



Strata title management was initially used as the only strategy for dividing ownership for property title (as a successor to company title, which divided ownership into parcels of shares). There are many other countries like Australia who are utilizing this strata management principle but with different definitions according to their administration. These countries include the United Kingdom, Canada, South Africa, New Zealand, India and the United Arab Emirates.

Though Australia has different legislation and jurisdiction for each state, the strata title acts are very similar with different names. During the 1980’s and 1990’s, most of the Australian states expanded their strata title legislation to include community title.

From its humble beginnings, strata development has rapidly changed and grown – within the next decade, the majority of people in Australia will be living in and buying into strata titled property. This is the only way forward for countries facing overcrowding and housing issues.

This strata title management legislation includes two main factors- the individual lot and the according share of the communal property (which may be made up of walkways, pools, lifts, gardens, etc.). Further to this, those owners in strata titled developments have an according share of the items like building insurance, cleaning and strata management.

Owners no longer own shares in a building, they own the airspace of the lot (which could be an apartment, a villa, a storage space, a car space or a marina berth) and they own part of the common property in shares according to their units of entitlement. The units of entitlement are established before a strata plan is registered and the share of the total units of entitlement represents the percentage contribution of the total units of entitlement of the building which owners need to make to owners corporation expenses

The problems faced by owners and residents in strata titled property can differ greatly from those faced by people in freestanding/Torrens type property. Neighbors are much closer when you live in strata titled development and it is very much a case of the majority rules. The possible conflictsare the same in every country that adopts this strata title management methodology – it’s definitely not a uniquely Australia feature.The best thing that a strata manager and owners corporation can do is anticipate these issues in advance so they can deal with them as they arise.

The courts have the power to decide strata titled matters, however in each state there is a tribunal in which these matters can be decided much more cheaply than if the issue was to go to Court. These tribunals are developing and changing rapidly to grow with the changing needs and disputes seen in strata titled properties.

Chris Whelan - About Author:
Christopher Whelan is Licensed Strata Community Manager at Whelan Property Group Pvt. Ltd, has years of experience in the marketing and trading strata property Sidney industries. His online and offline knowledge regarding Strata management Sydney and schemes makes him a great resource for strata property dealings.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/management-articles/about-strata-title-management.htm

Related Management Articles Subscribe to RSS

Efficient ship management - the biggest need of shipping business
Published by Saurabh Pandey on December 3rd 2011 | Business
If you are the owner of a ship then you might be looking for someone who can manage it so that you g...
 
Share voting and a better investor relationship management, with Sodali
Published by Adryana Bygger on March 30th 2012 | Management
Every company needs to rely on an expert team of professionals that is able to improve its reputatio...
 
Running qualified bestow info to realize unaffected cost management schemes
Published by Steve Rolling on December 1st 2011 | Management
While a great many agencies pass by the existing hypothesis where 'you be required to spend cash, to...
 
How important is Reputation management for your Digital Assets
Published by Pgupta on April 5th 2012 | Management
Reputation Management is a novel method to look at the traditional role of public relations, where o...
 
Strata title management features
Published by Chris Whelan on April 2nd 2012 | Management
Strata title management pertains to be a type of property services which established with multi- lev...
 
Arizona property management company excels in offering high standard services within reasonable price
Published by Rajeevdubey on June 20th 2012 | Management
Properties matters should be handled wisely. Be it related to renting your home or sell/purchase of ...
 
Strategic management of physicians’ day-to-day operational issues
Published by Jacob Thomas on November 29th 2011 | Business
Unlike physician practices of yesteryears, physician practices today have found themselves surrounde...
 
Points to remember while property management in Reading
Published by Ricky Charles on December 17th 2011 | Management
Property to let in Reading to the approaching tenants is not the everyday work! There are few things...
 
Outsource stock management and order fulfillment to make your work easier
Published by Diego Hall on December 15th 2011 | Business
A business has many parts and taking car of each part single handedly is impossible, hence outsource...
 
Cable and wire management
Published by Abhishek Gupta on July 17th 2012 | Business
Find an incredible selection of wire connecters terminals, wire terminal connectors, insulated wire ...
 
Effective team management – how it is done in a team
Published by C.M.Sundaram on May 31st 2012 | Management
Sometime it’s tough to find how to get the best out of your members, when you are leading a team. ...
 
Financial management of a festival production
Published by Adam Walker on April 11th 2012 | Business
Summer is coming up in Europe and the festival season is opening. This summer hundred thousands of p...
 
Agile project management training: for change
Published by Gnan Sunder on March 22nd 2012 | Management
APMG Agile project management certification available in over 20 venues nationwide both onsite and c...
 
Spend analytics and Supplier relationship management at times of uncertainties
Published by Glenn Farrier on March 7th 2012 | Business
With globalization, businesses are spreading their presence all across the globe. This also brings w...
 
Strata management solutions by a strata manager
Published by Chris Whelan on March 23rd 2012 | Management
Strata management solution services include day to day managing services that include collaboration ...
 
The application of advanced beginner employ any data to fresh cost management chances
Published by Jason S Hues on December 2nd 2011 | Management
Creating a clients are 1 be successful (Nickels, McHugh, together with McHugh, 2008)....
 
Record management services - for bigger office space
Published by Jon Smith on March 21st 2012 | Management
Online records management is a new concept and technology that helps to upload and store your data s...
 
The importance of asbestos management
Published by Mary Porter on June 16th 2012 | Management
If you are in need of asbestos management then the fact of the matter is that you need a reputable c...
 
Change the performance pace in organization with people management strategies
Published by Clausen on December 22nd 2011 | Management
People management strategy aims at making entrepreneurs achieve this goal. The philosophy of this st...
 
Supply chain management is incomplete without pick and pack services
Published by Diego Hall on December 15th 2011 | Business
Pick and pack services are integral parts of a business. These services are so crucial that they can...