I have just bought a unit… The body corporate is not big enough at the moment to maintain the building and it’s looking run down. I was wondering: should the developers pay strata fees as they still own some units? – Sarah, NSW
Q: Hi, I have just bought a unit. The building is only 1-2 years old and the developers still have at least 50% to sell. The body corporate is not big enough at the moment to maintain the building and it’s looking run down. I was wondering: should the developers pay strata fees as they still own some units? Should they also contribute to the maintenance? I guess as the units are vacant the developers don’t have to contribute but am unsure!
A: The owners corporation should be formed when at least 25 per cent of the lots have been settled with owners.
If the developers do truly own some units, they will have an obligation to pay strata fees as this is a mandatory requirement for all owners. The developers should also have an initial maintenance schedule in place. This ensures that the building is properly maintained during this time where the owner/occupier percentage is still low.
If you have concerns, it may be worth talking to the developers and requesting that a strata manager be appointed as soon as possible. This can help save from problems such as this, and more, from arising now and in the future.
For a free assessment of your strata property for strata management services, try PICA Group by clicking here.