Regulation key to strata-titled living
01/07/2005 The Sun By Sujartha Kumarasamy
“LOOK before you leap,” advises Neil Lawson about investing in a
strata-titled community.
Lawson, the executive director of Queensland’s Bureau of Land
Information and Titles in Australia, says: “Strata-titled
communities might not be for everyone. So, it is best to check out
how a community is being run. Do your homework… study the statements
detailing entitlements, obligations, funding arrangements and
management responsibilities.”
Lawson is presenting a paper entitled “Gated Communities and Strata
Title Management” at NREC 2005. He notes that there is very little
to distinguish gated community management from the management of any
other strata-titled community.
Lawson suggests that Queensland’s regulatory framework for
strata-titled developments can be a model for the management of
strata-titled gated communities. “The model has responded to the
needs of the market, consumers and industry and since the 1970s, has
continually updated its approach to strata title regulation.
The practical measures provide greater certainty and confidence for
all those involved in developing, selling and managing strata-titled
communities,” adds Lawson.
He notes that a dispute resolution mechanism will also help iron out
problems. “Residents of strata-titled communities in Queensland have
access to a dispute resolution service provided at low cost under
the legislation.”
Legislative and management frameworks will also boost buyer
confidence, says Lawson.
“Comprehensive strata title legislation that addresses the practical
problems and concerns of both buyers and sellers can give it a
competitive advantage in attracting potential investors. Discerning
buyers would want to satisfy themselves that they were happy with
the management arrangements for the community that they are thinking
of buying into. Communities with ‘hassles’ and bad experiences could
suffer by discouraging buyers.”
