Buyer Education Needed to Fully Benefit From Apartment Living

To older Australians, it doesn’t seem all that long ago that the only experience they had of people who lived in apartments was confined to actors in American movies. Some apartments were glamorous and spacious while others were the stereotypical slum housing with families crammed into tiny areas and washing hanging everywhere. Times certainly have changed, and now in Australia, more and more people are embracing apartment or townhouse living.

Apartment and Townhouse Living Attractive Alternative

There are many things that attract people to this lifestyle. Better security, having neighbours close by, not having to maintain a large yard and garden and the convenience of on-site recreation facilities are all reasons people have given us for wanting to live in a strata scheme. However, some of these attractions can also become liabilities for people who don’t really understand how different this is from living in a typical house.

Our primary business at WA Strata Management is to provide operational services to keep apartment complexes running efficiently so that the council and lot owners are free to enjoy their own experiences of apartment living. We believe this experience has given us an insight into the lifestyle, and we are in an excellent position to point out some things that people should check before they make this move.

Quick Checklist for New Buyers

It is important that they should understand exactly what they are buying by checking the lot boundaries, finding out what is and is not common property and knowing their responsibilities. They should check if the complex is well managed by obvious measures such as looking at the gardens, the outside of the building, drive and pathways and recreation areas. Do they appear to be well maintained or are they all a bit rundown?

They should also check minutes of meetings, especially the annual general meeting to understand what issues are discussed and the type of motions that are passed. Finding out if the building has a reserve fund is crucial as it is from here that large maintenance items are funded. Do they understand that they must pay a regular levy for maintenance? Check things like financial records and insurances to make sure the building is not a poorly run, poorly funded financial nightmare.

Buying into a complex run by professional and astute strata management services such as ours at WA Strata Management is a very good way to protect your investment. Our excellent financial and operational systems assist our clients with their reporting responsibilities. Our team members know the applicable legislation and regulations as well as having good communication skills and being able to follow council instructions. Our website at www.wastrata.com has more information.