The habitual ‘go-to’ of many property professionals has been Strata/Community Title. The need for separate title of apartments, office suites and professional suites in commercial buildings, even berths on a jetty, has existed for a very long time and for most of that time, has been met through Company Title. However, when the notion of subdivision was extended to such ‘shared’ structures, Strata/Community Title seemed easy for property professionals and became the go-to method of titling.
As Strata/Community Title becomes more rigid, more expensive and slower to achieve, the benefits of Company Title are increasingly being recognized. A major benefit of Company Title is that, unlike Strata/Community Title, individual title can be created before physical structures are completed and amendments to the layout can be managed more effectively. There are other wins for Company Title – for instance it enables more streamlined, more effective and lower cost management and administration than Strata/Community Title.
In so many respects, Company Title stacks up very favourably against Strata/Community Title which generally sees sky-high all-up cost and months and months of bureaucratic processing.
For further information:
Tenure Solutions Director Ian Mathieson on 0411 600 712.