There was a lot happening in 1965 - the invention of the internet, Kevlar and the cordless telephone, the escalation of the Vietnam War, a fly-by of Mars by NASA’s Mariner 4, the death of Winston Churchill, the birth of Robert Downey Jnr – but, as I am sure you will agree, those things all but pale into insignificance in the face of the momentous enactment of Queensland’s first strata legislation, the
Building Units Titles Act 1965.
For almost 60 years Queenslanders have been immersed in an evolving world of strata. There are an estimated 5 million people living in community titles schemes in Queensland today.
Most strata owners would have had some sort of disclosure statement plonked on their contract, the aim of which was to impart upon the starry-eyed purchaser some basic useful information regarding the nature of the proprietary interest in which they were about to invest. Strata owners in Queensland are also very fortunate to have their own unique office of the commissioner for body corporate and community management, which, in addition to offering a dispute resolution service for disgruntled “strataphiles”, provides an information service accessible by anyone.
Despite that rich strata history and free strata resources, for many people living and investing in community titles scheme in Queensland, strata remains an enigma.
Here are a couple of anecdotal common examples of situations that could have been avoided with a little more due diligence...