We are a nation that speaks 8 separate strata dialects, yet the basic strata concepts are the same across the nation. So are the issues that trouble us. As we seek to understand what unites us and what divides us, this week our focus is Queensland.
Queensland this year became the third of our states and territories to pass the 500,000 apartments mark with 539,154 lots in 52,920 schemes. Here are some other highlights of the latest research about the Queensland strata market –
· 13% of the population live in strata (compared to 15 nationally).
· 61% of Queensland strata schemes contain 5 lots or fewer.
· 44% of residents are aged between 20 – 39.
What makes Queensland strata laws distinctive?
· Management rights – caretaking and letting contracts that can run for up to 25 years, sold by developers to operators and imposed on future owners
· The duty of a body corporate to be reasonable in everything it does. It sounds enlightened but is contrary to years of property law protecting the right of private property owners to do with their property as they wish, so long as they cause no harm to others
· Different modules and applicable laws for different types of strata property. So much legislation for so little gain.
Michael Teys advises strata management businesses on improving profitability through professionalisation and streamlined operating systems.
He has more than 30 years’ experience as a strata lawyer and academic and has owned 11 strata management agencies throughout Australia. He has a Master of Philosophy (Built Environment) and Bachelor of Laws. He lectures and writes widely about strata management issues in Australia and internationally.
