From: David H
Hi Forum,
I am just looking at my first off-the-plan IP. I have just received the contracts and they have an interesting condition that I was wondering if anyone had come across before.
This is a large multi-story, multi-unit dwelling. There will be an on-site caretaker, who will also act as an on-site letting agent if any owner wishes to use their services.
The seller of the property requires that buyers sign over their rights on the Body Corp to the seller for the first year. This will enable the seller to set up the letting agreement and agent. There are also clauses that give the seller the right to grant exclusive use of common areas to the owner of any unit - and the caretaker will own the caretakers unit.
This is not meant to be a set of serviced apartments, but I feel it may be being set up to potentially be that way.
I am really naive in off-the-plan, so I would appreciate advice from anyone who has come across this before.
Thanks,
David
Hi Forum,
I am just looking at my first off-the-plan IP. I have just received the contracts and they have an interesting condition that I was wondering if anyone had come across before.
This is a large multi-story, multi-unit dwelling. There will be an on-site caretaker, who will also act as an on-site letting agent if any owner wishes to use their services.
The seller of the property requires that buyers sign over their rights on the Body Corp to the seller for the first year. This will enable the seller to set up the letting agreement and agent. There are also clauses that give the seller the right to grant exclusive use of common areas to the owner of any unit - and the caretaker will own the caretakers unit.
This is not meant to be a set of serviced apartments, but I feel it may be being set up to potentially be that way.
I am really naive in off-the-plan, so I would appreciate advice from anyone who has come across this before.
Thanks,
David
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