When you invest in a strata property, it’s important that you are aware of the strata meetings that occur which dictate changes to the complex.
Getting involved in these meetings could possibly help increasing the value of your asset if not protect it.
Every owner of a strata property would like to see the value of their property increase, but the current strata by-laws of a strata complex may prevent owners from making certain changes to their properties.
It’s possible to change these by-laws, but it takes a bit of effort on the part of the owner through the owners corporation and strata meetings.
An owner or their proxy representative has a full right to attend all strata meetings. They can do so personally or they can do by way of a proxy; that is, they appoint someone else to go on their behalf.
A strata owner have got the full right to attend and provided they have paid all their levies, they have got a right to vote.
As a strata property owner, you are also told by the owners corporation what to do but similar to a government, the owners corporation is simply a body that all of the lot owners are a part of.
The challenge for a first time strata property owner is to deal with being “told” what to do and what is being done for them, a process that they can become a part of so to they can start to gain some influence and traction.
Attending the owners corporation strata meetings for the first time can be intimidating with established members running the show. Don’t despair, rather partake in the meeting with relevant input where it can contribute to the betterment of the complex.
Remember, you need to be at the meeting in order to contribute to the owners corporation and by default to your property.
Be diligent not to miss these strata meetings and equally important do not burden the owners corporation with a deluge of emails/correspondence in lieu of attending the meeting. You will be considered a nuisance before you show up for your first attendance. Adopt a conducive and supportive approach.
Treat the other owners as members of your “business” family.