Toto

Thanks Sujenna, that’s a very comprehensive reply!

We are a small block of four units, 50% owner-occupied. I too don’t know why we are self-managing but the system was already in place when I bought 7 years ago. One of the owners runs his own company and it would appear that he thinks the building is his personal company as well, to run as he sees fit. He is incredibly anti strata title even though he has never owned a strata property (unlike the rest of us). So yes, a control freak. However, I and the other owners live in hope that we can make him see the plus side of strata: ie we don’t have any of the day-to-day running or dealing with ASIC, we still make all the important decisions, can change strata managers if we don’t like them and our properties will be easier to sell and fetch a better price.

The building is compliant with fire regulations, there are no stamp duty issues and we recently had a survey done for a DA application relating to replacing existing laundries. So the main complication in submitting a DA to convert will be the Sydney Water metering requirements.

The property is in inner west Sydney and one of the units which recently sold had all sorts of complications (which dragged the process out for months) to do with share certificate and other demands from the CBA. The selling agent told me he could have sold it a lot more quickly and for a lot more money if it had not been Company title.

Time consuming, yes; expensive, yes; but do you think it’s worth it in the long run? Or should we just let things be. I just want to protect my investment.

Thanks again.