Categories for Common Property

New definition of financial year for strata companies

24/10/2023
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As part of the strata reforms that commenced on 1 May 2020 a new definition of financial year for a strata company was inserted in section 3 of the Strata Titles Act 1985 as follows: Financial year for a strata company means – (a) If the scheme by-laws are silent on the matter, the period of 12 months ending on 30 June; or (b) If the scheme by-laws specify a period of 12 months ending on a different date as...

Looking to Buy a house- consider pre-contract Building Inspection before sign on the line

23/3/2023
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Under the current normal Buying a property process in WA, a buyer will sign a contract -also known as an Offer and Acceptance (O&A) to buy a House, Land, or Strata lot, and they may include as a condition their desire for a Building Inspection or Survey done, usually at their own cost, after it goes unconditional. The standard REIWA annexure if included in the negotiation of the O&A allows for a Pre-purchase Building Inspection. However, it is usually limited...

Suspect a water leak, How to detect it & what to do…

11/8/2017
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Leaks can be extremely wasteful and costly. Regularly checking taps, pipes and fittings around your property could save precious water and precious money! How can I detect a leak?To conduct a leak detection test yourself, follow these simple steps:Step 1: Ensure no water is being used in your house (turn off all water appliances, such as washing machines and evaporative air conditioners).Step 2: Read the black and red numbers on your meter. Record the black numbers from left to right. The black...