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Growing Up by Michael Teysis a thought-provoking and entertaining book about ownership of strata property and living in high-rise, and higher density apartments and townhouses.
The legal concept of strata title was invented just over 50 years ago as a means of conveniently financing separately-owned flats with common property and facilities. Since then increasingly complex laws have been developed to accommodate increasingly complex buildings, many of which now incorporate a mix of uses.
Ownership of strata property brings with it certain obligations and responsibilities unique to this form of housing. Not least is the requirement to be part of an owners corporation (known also as a body corporate), a not-for-profit organisation run by volunteers from within the strata community concerned. Strata residents and investors need to read Michael Teys' book!
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