5 responsibilities of your strata community (You probably wonder the purpose of your strata community aside from collect money from you. Well, in exchange of the monies collected from you are the benefits of services and value that you receive from your strata community. These benefits and services come from the responsibilities that your strata community has to take care of your common property so that the value of your real estate property is protected. Here are the 5 responsibilities of your strata community 1. They are responsible to repair and maintain your common property. (Examples of these are your common lobby or driveway, the exterior of your building, if that is common property or if you live in an apartment, your common pool or gym for example).

2. They are responsible to protect your security and safety when you, your family or guests are using the common property. (Your strata community must make sure that all those entitled to use the common property is safe and secure. They take reasonable measures to make sure you and your loved ones safety are safe and secure.

3. They must obtain the reinstatement and replacement building insurance of the common property and your private dwelling (where applicable). (One of the main benefits of living in a strata community is that you enjoy bulk purchase of reinstatement and replacement building insurance which covers you should unfortunate accidents occur to your property and the common property).

4. Your strata community is responsible to enforce the rules against persons whose misbehaviour affect your enjoyment and use of your property AND the common property. (Aside from referring to external resources like the police, fire brigade and other external resources, you could also revert to your strata community to enforce the rules so that the persons hinder your enjoyment of your property and the common property could be compelled to stop).

5. Finally, your strata community is responsible to make sure that your property value is maintained or increases. Your strata community achieves this by making sure they continuously maintain and improve the common property including the exterior face of our property. One model behaviour of the strata community is continuously assessing and measuring (through its members, your co-owners) how it could maintain and increase the value of your real estate investment. There you have it – 5 responsibilities of your strata community I hope that you now have a better understanding of your strata community’s responsibilities and how it helps you better enjoy your real estate investment.

CONCLUSION Strata enthusiasts, I will speak to you in our next podcast. If you like what you hear, please reach out to us and let us know which episode has caused you to further appreciate living in a strata community Remember - continue upgrading yourself! I am Rochelle Castro, I will speak to you soon in Strata Life podcast!