There are several Body Corporate Titles (& respective Acts) in South Australia. Most common of course is the Strata Title and it’s replacement – Community Title.
In my mind, the name change from Strata to Community Title should indeed emphasis to all, that all Body Corporate Title’s are truly about; COMMUNITY LIVING.
Your purchase into a Body Corporate isn’t just about buying an apartment, townhouse, a Home or Investment – you are buying into a Community. You are taking an additional responsibility to be part of that Community, to respect the Community Residents and Owners, and their rules and facilities. A responsibility towards others, to ensure that everyone has the enjoyment of their own private Lot and also enjoyment of the communal property. This additional responsibility is yours to understand and learn.
Part of the Community responsibility means that you agree to protect the site and one another through adequate levels of Insurance. You will also need to establish funding levels which ensure the maintenance and condition of the site are sufficient and safe. To consider the best interests of all parties involved. These responsibilities are taken jointly and severally.
Legislative requirements are placed on you as a Community Owner but common sense and neighbourly consideration are needed hand in hand, to ensure your Community thrives. Community Living will not suit everyone, but it does offer amazing living (and investment) solutions for many Australians.
If you are considering purchasing a Community property, I urge you to take the time to learn not just about your building purchase, but about your rights and responsibilities of owning with-in this specific community group. Seek out the Strata Manager or Presiding officer, review Bylaws, financials, ask any questions – then bring the right attitude towards being a part of a Community