Had a tax client ask a question today. I referred her to a town planner but would like to know the options , choices, issues, costs etc with the following scenario.
PPOR is a duplex with a common wall on a single title. Its a strata. The strata does little other than collect approx. $1500 and pay for building insurance. The two owners look after all maintenance of their respective homes and gardens etc.
She is getting older and doesn't want the hassle of doing the strata issues herself any longer.
Two options they thinking (are there others?)
1. Appoint a strata manager. Pay them to do all the mucking around etc...Problem may be its very small so unlikely to be cost effective. Are there small strata firms who do this ??
2. Change title so each holds own title with right of way etc dealing with the common driveway etc ?? (one home is behind the other with driveway down whole length of block)
If Option 2 is the way to go...Who should she contact ?? Costs ?? etc Council fees ?
PPOR is a duplex with a common wall on a single title. Its a strata. The strata does little other than collect approx. $1500 and pay for building insurance. The two owners look after all maintenance of their respective homes and gardens etc.
She is getting older and doesn't want the hassle of doing the strata issues herself any longer.
Two options they thinking (are there others?)
1. Appoint a strata manager. Pay them to do all the mucking around etc...Problem may be its very small so unlikely to be cost effective. Are there small strata firms who do this ??
2. Change title so each holds own title with right of way etc dealing with the common driveway etc ?? (one home is behind the other with driveway down whole length of block)
If Option 2 is the way to go...Who should she contact ?? Costs ?? etc Council fees ?