It’s necessary for anyone who is buying a home to understand how their strata work. As a first-time buyer, you may not know much about strata. And even if you have some knowledge, it may not be enough information to make smart choices. There are many different types of housing, and each type has its own unique rules. strata management course covers everything from maintenance to finance and everything in between. These courses cover what you need to know before buying or selling a house. It does not matter whether you’re buying or selling a unit; SM covers both sides of the coin.
What Strata Management is all about
- A strata plan should specify the number of bedrooms, and bathrooms per flat, how many car spaces there are, and details of individual ownership. Each flat is given a separate set of numbers so that you can quickly track them. Specific numbers will be assigned to each room and space within the home, and this is where the ‘unit’ comes from. The number represents the size of the space and the square footage of the area. A more significant number indicates a bigger space.
- You can choose your floor plan carefully. Whether you want a two-bedroom or three-bedroom flat, you will still pay the same amount for the actual flat. But choosing a larger flat means that you get a smaller share of the standard facilities, and vice versa.
- The number of bedrooms you choose determines how many people can live in the flat. While you don’t have to rent out a bedroom unless you have children, you can choose to do so as a way to increase revenue from those rooms.
- Leaseholders are residents who signed a long-term lease agreement with the strata corporation. Leaseholders are responsible for paying monthly fees on the basis of their contract. Freeholders are the property owners, and they own the land and the building. Freeholders are legally responsible for paying strata fees.
The outcomes of the course
- A strata management course might give you a feel for how strata work and how it affects the things related to your home.
- You’ll learn about the difference between a freehold and leasehold title.
- A strata plan is a document that describes the ownership of the units within your building.
- A strata plan gives the owner access rights to common elements that affect the whole building.
