October 15, 2015 admin

THE NEW STRATA SCHEME

The Challenge

The licensee has had experience with a new strata scheme in a multi-award winning waterfront development.

The challenge was to set-up the Strata Scheme on the company database as quickly as possible following the registration of the strata plan to allow purchasers to settle on their new homes and to enjoy the lifestyle and facilities which they bought into.

The Strategy

Having a good relationship with the developer and assisting in previous set-ups works to our advantage.

In this case, the licensee worked closely with the developer for a long period of time before the registration of the strata plan at the Land and Property Information.

The licensee assisted the developer by preparing meaningful budgets for marketing material based on similar buildings, sought insurance quotations to cover the new strata scheme, provided advice on the by-laws, inspected the site to get a good understanding of what purchasers were buying into and answered questions from prospective purchasers on what could be done following their settlement.

The Result

With good planning and the successful registration of the strata plan at the LPI, a meeting was subsequently held with the developer to allow the strata scheme to be set up on the company computer system. This enabled section 109 certificates to be produced and enabled Owners to settle on their purchase with full disclosure and knowledge of what was being purchased.

To this day, many of the original Owners still call the development their home and are happy enjoying the lifestyle and community they have bought into.