Folks, it’s a SERIOUS episode today… jam-packed with nothing but serious GOLD!! (Please no contract-signing until you’ve swallowed this stuff first.)
Why? Today we’ve got Tim Graham, Partner at HWL Ebsworth Lawyers, to discuss all things Real Estate Law … especially Strata!!
Strata? What do we mean? Think Off the Plan. Subdivision. Owner Corporate (Body Corporate). Townhouse. Apartment. Unit.
Yep. Tim practices exclusively in the areas of strata and subdivision law, Owners Corporation and dispute resolution with almost 20 years of experience! He’s the President of the Australian College of Community Association Lawyers (ACCAL), a Fellow of the College, named in Best Lawyers™ Australia for Real Property Law and has been recognised in Doyle’s Guide as a Leading Property and Real Estate Lawyer. He is also a Council Member of Strata Communities Australia. It’s enough to make your jaw drop, especially when you think about his know-how when it comes to domestic and commercial construction law, contractual advice and building defects claims, insurance reviews, repair & maintenance and Water Act cases in the VCAT and the Courts (and then some)!
Basically, Tim’s a heavy hitter who absolutely knows his stuff (Which’s exactly what you want from someone dealing with the “the fourth form of government”).
Quick heads up, folks: You might need to put this one back to 1 speed because there is some GOLDEN but TECHNICAL tips flying around. At the end of the day though, it’s crucial you know this stuff (why spend hundreds of thousands of dollars only to throw more money at a legal dispute?!)
Sensible disclaimer: Folks, the gold you’re about to hear is general advice only. So, please DON’T do anything rash, make sure you seek professional advice before making any legal or property investment decision!
Your dot point debrief….
- Why do people say, “Strata is the fourth form of government”?
- Hang on a minute… what IS strata?
- When did we last have new strata in Victoria?
- What are the most common disputes and problems most challenged inside an owners corporation?
- Is investing in strata properties a good idea?
- What sort of time frame should you expect for subdivision?
- What due diligence needs to be done prior to signing a contract?
- Does “majority rule” if there’s a dispute inside an Owners Corporation?
- What is the Benefit Principles in the Owners Corporation Act and why it’s important?
- Why do you need to be careful of incentives for buying Off the Plan?
- What is the #1 tip you should do if you invest inside a body corporate?
- How did the company share come about and why is it not considered a “title”?
- Are there disputes happening with serviced apartments and Airbnb?
- What do “entitlements and liabilities” mean and why they are different?
We’ve also threw in a few Case Studies for Tim to comment on as well:
- What can you do if someone’s having loud parties on your block?
- Who’s responsible for cleaning the outside windows?
- Can you erect a pergola in the backyard of my townhouse?
- The visitor carpark is always empty, can I use it?
- What if the complex has a pool and you don’t use it … do you still have to pay?
Pheww! What an episode, huh??
And a quick shout out to our previous guest, Nicole Faid, for sending the legendary Tim our way! (You can suss out her episode after: How to Avoid the 7 Costly Mistakes when Buying a Property – Chat with Nicole Faid)
P.S. Folks, don’t forget…
Send us your Money Hacks
Let us know if The Money SMARTS System has worked for you!
Tell us what SPENDING HABIT YOUR MOST STRUGGLING WITH
… basically, fill us in on what will help you most & we’ll include it in our new book 😉 [email protected]