When you buy a strata property

  1. You own a lot – an airspace bounded by the inner skin of boundary walls, floor and ceiling.
  2. You become a member of an Owners Corporation – but not necessarily an “equal owner”.
  3. You own a share of common property, but not necessarily an equal share. But you have collective obligations for costs, repairs, management, etc., hence a responsibility for “collective decisions”.

The Fourth Tier of Governance: Managing the Future of our Cities. Dr Hazel Easthorpe, City Futures Research Centre, UNSW