In a Strata Property, it is important for the boundaries of each lot to be clearly defined, common areas to be established, and for any barriers or hinderances to be identified as early as possible.
As a Strata Company, you will have a unique Strata Plan, which was submitted when your strata scheme was first registered. Simply put, a Strata Plan is a registered document which clearly lays out your strata scheme, along with other critical information about the land and the boundaries of each lot. It should also identify any issues or incumbents you may encounter.
Strata Plans can include a variety of information, and you will find that not all Strata Plans are the same. You should, however, start by outlining the technical or administrative components of your strata scheme.
The first page of your Strata Plan should outline all key information relating to your Strata Company, such as the name and registered address of the Company, the date the Strata Company was lodged for registration (as well as the date the registration was examined and approved), and whether a management statement was put into place upon registration.
Another key aspect of a Strata Plan is the identification of common property areas (the areas of land that do not belong to a specific lot, such as parking spaces and garden areas), and the breakdown of each lot. A floor plan can assist with showing the boundaries of each lot, but you must also clearly label the lot boundaries within the wording of the plan. Written descriptions, sketches and other descriptors can be useful to reflect how the land may be divided.
You will also see a location plan on your Strata Plan, which locates the building(s) in relation to your parcel of land, as well as other neighbouring properties and roads.
Want to know more about strata plans? Give us a call on 08 9362 1166 or email us at info@esmstrata.com.au. You can also learn more about strata by visiting the News and Resources page on our website.
