Residential strata Title
Residential strata title ownership is most prevalent across the city. Residential properties can be held by multiple persons. In one way a residential apartment is divided into flats that is sold to different people. Lobby and garden etc being the commonly used area is held by owner’s corporation. Strata title law in Australia is wide as it permits strata ownership within a single residential unit as well .
Commercial Strata Title
As the name suggests, commercial strata title is ownership of commercial and office spaces in fragments. Property managers regulate common ownership in commercial building or unit while office blocks are individually owned by strata title holders. When office space requirement is low or negligible, this is the best option to go for.
Retirement villages are housing complexes or residential community generally designed for older adults retired partially or fully. Come organisation or care agencies undertakes the running and maintenance of these communities. Adults are allocated an apartment or accomodation on which they hold individual title. The other parts of the community or complex is commonly used by all people falling under common ownership.
Caravan parks or recreational vehicle parks are a good way for people to own a potable home in a vehicle like structure that is mobile and easy to move. Pitches are allocated to people that has proper accomodation facilities and rest of the park area is common ownership land. Park facilities include pool, showers, laundry, barbecue area accessible by all pitch owners.
Industrial Strata Title
Industrial Strata title ownership is an effective low cost solution to own part of a industrial unit, be it a factory area or a warehouse. There may be one or two structures on land that is owned in parts by number of business houses. Assume a business is operating on low scale but requires stock storage facilities at low cost, the business may opt for holding part ownership of a warehouse to serve the storage requirement.