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Common Property is defined in the Strata Schemes Development Act 2015 as ‘so much of the parcel as from time to time that is not comprised in any lot.
Generally speaking, in most strata schemes, the lot owner owns the airspace and everything in it within the boundary of the unit. They don’t own the main structure of the building.
The owners corporation is responsible for the repair and maintenance of common property.
This publication provides a list of items found within a building that could generally be considered common property. However, depending on the history of the building, renovations and by-laws, determining what is and isn’t common property is a complex matter. In most cases you will need to refer to the strata plan and by-laws to determine who is responsible for repairsandmaintenance.
SCA (NSW) recommends that you seek legal advice.
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Disclaimer
The information provided above is provided as a general guide only. Actual cover is dependent on the prevailing insurance policy terms, conditions and exclusions that may apply with the insurer at the time of loss and applicable law from time to time.
While every effort is made to ensure that the above information is generally accurate and correct, no warranty or guarantee is given by SCA as to the accuracy or correctness of such information, and SCA accepts no liability for loss or damage arising out of the use of such information.
The information provided is not a substitute for individualised professional advisory or legal advice. No person should act or refrain from acting on the basis of the information provided by SCA.SCA disclaims all responsibility and all liability for any expenses, losses, damages and costs which may be incurred for any reason whatsoever as a result of the information provided by SCA”.
