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Strata Lot- what is it?

Strata Lot might include a Suite, Unit, Apartment, office, Town-house, Villa, duplex, or even a survey-strata vacant/housed lot. A ‘Strata lot’ will be a lot on a ‘Strata’ or ‘Survey-Strata’ plan. They are subject to the Strata Titles act.

They are usually subject to the standard schedule 1 & 2 Strata by-laws (as specified in the act) They also maybe be subject to;

• additional operating costs like insurance, levies, utilities, and their search fees.
• additional or special by-laws, reserved/special use areas,
• Possible additional ‘house rules’ – these should be checked by you from the strata company records. The seller or their real estate agent should be able to advise who to contact to do this check.