Experts have predicted that the population of Australia will grow to 35 million people by 2050. Around half of the population will live in our three major cities; Sydney, Melbourne and Brisbane and the majority of those in high density dwelling.
Apartment living is part of everyday life in Australia today and will continue to be a popular living option in our future too. So it makes sense for current and potential residents to familiarise themselves with some tips on living in apartment dwelling harmony.
Top Ten Tips for Apartment Living
1. Love Thy Neighbour
Recognise that when you’re living in an apartment, your neighbours are not across the street but can be on the other side of your living room or bedroom wall. Mutual respect and consideration of neighbours will lead to more harmonious living.
2. No Pets Allowed or Are They?
Before you decide that you need furry, feathery or scaly companions, find out if your building allows pets. If it does then the next step is to inform your executive committee that a new house guest may soon arrive. Strata Community Australia has information and a pet application form on its website www.stratacommunity.org.au
3. Know What’s Yours
Make sure you are clear on the space that is yours and the space that is common property and know what you can and can’t do on common property
4. Know Your Rights
Acquire a full copy of the by-laws that are specific to your building, so that you understand the "rules" that you will be required to live by.
5. Do Some Sleuthing
If you are unaware of the decisions made by the executive committee then ask for a copy of previous Minutes. Even better go along to a General Meeting and get a feel for what’s happening in and around the building.
6. Make Sure Your Sinking Fund Isn’t Sinking
Have a good look at the condition of the building and make sure that the funds in the sinking fund match the long term maintenance planned for the next few years
7. Budget for Levies
Make sure you have budgeted for the quarterly levies to fund the annual running expenses of the building and its long term maintenance. Ultimately this will protect the value of your financial investment.
8. Be Informed
Educate yourself, as to your rights and responsibilities of living in a strata or community title property by doing some research.
9. Know Who to Call
Find out who on your executive committee you can contact when something goes wrong with the building and its services.
10. Be Active
Take an active interest in what goes on in your building, attend the annual general meeting so that your voice is heard and consider becoming a member of your buildings executive committee.
Disclaimer: The information provided above is a general guide only and not intended as a substitute for legal advice. The company disclaims all responsibility and all liability for any expenses, losses, damages and costs which might be incurred as a result of the information provided by the company in this article.