02 9939 8061What is a community title scheme?
A community title scheme is created by the registration of a Community, Neighbourhood or Precinct plan to manage large developments that often include several residential lots as well as commercial and retail outlets.
In community title, all common areas including all roads, promenades and parklands are referred to as association property, instead of common property.
The elected community scheme committee deals with day-to-day issues (like the strata committee for residential and commercial strata schemes) and general meetings are held for larger issues.
Strata insurance is only compulsory for the association property (common property), with owners of community title properties responsible for insuring their own lots/properties.
All of the by-laws in a community title scheme are detailed in a Management Statement, which can vary greatly with each community title property as they are often quite unique.