The ins and outs of strata plans
Understanding Strata Plans is essential in navigating the complexities of property ownership. So, what is a strata plan? A strata plan is a legal document that sets out the subdivision of a property into individual lots and common property. Generally, multi-unit buildings, townhouses and apartment complexes require strata plans. In contrast to conventional land divisions, each lot signifies a distinct portion of the individually owned property, and the owners jointly own the common property.
Upon registering, strata plans must be submitted to officially commence the scheme. These plans contain essential information, primarily outlining the technical and administrative components of the strata scheme.
While no two strata plans are identical, they follow a standard structure. They consist of two main components: administration sheets and plan drawing sheets, including the location and floor plans. Plans also encompass common property, lot boundaries, by-laws and regulations.
Types of strata plans
On the first page of the strata plan, it provides essential details such as the name and registered address. The subsequent information required varies depending on the specific type of strata plan.
In addition to the original plan upon the scheme’s commencement, additional strata plan types include:
Strata Plan of Subdivision
The Strata Plan of Subdivision (Sections 13 and 14 of the Strata Schemes Development Act 2015) subdivides lots and common property to create new ones.
Strata Plan of Consolidation
The Strata Plan of Consolidation (Section 15 of the Strata Schemes Development Act 2015) merges two or more lots into a single lot. In cases where common property, such as a wall, floor, or ceiling, separates the previous lots, it may become part of the consolidated lot. Consequently, ownership of this land will vest in the name of the owner of the consolidated lot.
Building Alteration Plan
The Building Alteration Plan (Section 19 of the Strata Schemes Development Act 2015) illustrates the revised boundaries of lots when there have been modifications to their original definitions. This plan becomes necessary when a structure that previously defined a lot boundary is demolished or when a new structure aligns with a lot boundary.
Requirements for a strata plan
Creating a strata plan involves a systematic process that includes various legal and administrative steps. The first step is to engage a registered surveyor, who will conduct a detailed survey of the property, accurately measure and map the boundaries, identify existing structures and determine common property areas. This information forms the foundation of the strata plan.
Additional items included in the strata plan:
- Accurate floor plans of each lot, including measurements and specifications
- By-laws that govern the rules and regulations for the strata scheme, such as pet ownership, noise restrictions and the use of common property
- Identified and demarcated common property areas for all owners to share
- Specified unit entitlements for each lot, determining the owner’s share of expenses
- Legal compliance with the Strata Schemes Development Act 2015 and Strata Schemes Management Act 2015
Once the relevant authorities approve the prepared strata plan, it must undergo registration to attain legal status.
Why choose All Suburbs Strata Management?
We are the strata compliance experts. Ensuring your strata scheme commences with registering a well-defined, accurate strata plan is imperative.
We provide the most professional and accurate advice and administrative services with transparency and integrity.
ASSM has over 40 years of specialised strata management expertise servicing New South Wales. We are large enough to provide rock-solid stability and small enough to ensure old-fashioned service and build long-lasting relationships.
We are not just experts in residential, community, commercial and industrial strata schemes. At ASSM, we assist numerous developers in preparing for registration and provide strata reports and inspections.
We will ensure your strata scheme runs as smoothly as possible. When considering buying into a strata scheme or wanting to engage a professional and qualified team, contact ASSM today and experience the difference that 40 years of successful strata management will make.
