Common Property By-Law and Property Valuation - FLAT CHATFLAT CHAT

Tagged: Common property

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17/04/2023 at 2:23 pm #68293
snobl
Flatchatter
Hello

The owners corporation for my Strata building have agreed to enter into a common property by-law (CPB) to allow two adjoining units to have sole access to a paved outdoor area (the area to be divided into two).

Should the area be surveyed for the purposes of the by-law and how many valuations should be sought to inform the payment in return for the CBP?

Thank you
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17/04/2023 at 5:58 pm #68301
chesswood
Flatchatter
Please clarify whether “have agreed to … by-law” means you’ve resolved it. If so, doesn’t the new by-law specify the terms?
18/04/2023 at 6:29 pm #68310
snobl
Flatchatter
Chat-starter
The Owners Corporation has not approved the common property by-law. The background is that the two owners in question were occupying the area without any right to do so. The were were asked to either vacate the space or prepare a common property by-law for the consideration/approval of the Owners Corporation.

My difficulty is that the Strata Committee is playing a key role in the process, but two of the three members of the Strata Committee are those who have agreed to the by-law. As a non member of the Strata Committee I am concerned about conflicts of interest and ensuring that the process is fair and transparent for all.
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