Community Associations
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A Community Association is just like an owners corporation.
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A community scheme is created when a plan of subdivision known as a community plan is registered at the Department of Lands.
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A community plan contains various sheets on which the development lots and community property and their boundaries are shown by lines.
These sheets are called a location diagram, a detail plan and a community property plan. There is also an initial schedule of unit entitlements on the plan which must be based on the comparative market values of the lots (as if the lots were vacant) at the date of the valuation supported by a certificate given by a registered valuer.
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It has obligations to maintain and repair community property, set up bank accounts, levy contributions on its members, insure the community property, keep records, hold meetings etc. The members of the community association are the owners of the development lots and, if those lots are subdivided by a neighbourhood plan or a strata plan, the neighbourhood association and owners corporation created upon registration of those plans respectively.
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The community property is the land in the development which will be used in common by some or all of the lot owners. Typically this includes roads, gardens, parks, swimming pools, tennis courts, gymnasiums and sometimes a clubhouse. It is owned by the community association which is created upon registration of the community plan.
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Foreshew Strata Agency has the expertise and experience to manage Community Associations and Neighbourhood Associations throughout New South Wales.
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We are familiar Community and Neighbourhood Management Statements and the intricacies in managing these unique type of schemes.
