All your questions about Community Title, Answered!
What is Community Title?
Have you heard about community title, but are not sure what it’s all about…we’re here to help and it’s more affordable than you might think!
Heritage Parc is spelt with a ‘c’ to denote that the parks, recreational facilities and the extensive open green spaces BELONG to the ‘c’ommunity titled neighbourhood. Residents can enjoy living amongst other likeminded home owners who share the same pride in their community!
Community titled development means residents have shared ownership over common facilities and outdoor areas and Torrens Title over their specific lot.
Lot owners will pay a quarterly levee to maintain the recreational facilities and the communal landscaped areas. Within Heritage Parc only the streets (unlike some community schemes) belong to Maitland City Council, who bears the cost and responsibility to maintain them. All utilities and services (gas/electricity/water/sewer/NBN) are maintained by their respective providers. McCloy Group will pay all levies until June 2019.
All lot owners in Heritage Parc are members of the Community Association, responsible for the maintenance of the community property and facilities. An Executive Committee will be formed at the first meeting of the Community Association and will manage administrative matters on behalf of the community.
A Strata Management Company will be appointed by the Executive Committee to undertake the services required to manage the community property and facilities.
The Community Land Management Act (1989) governs the running of Community Title Schemes. For more information on Community Title, visit the New South Wales department of Fair Trading website: fairtrading.nsw.gov.au.
Who pays to use the Community Property and Facilities?
Each lot owner will pay for the maintenance, repairs and upkeep of the community facilities via community levies. The Strata Manager will collect the levies on a quarterly basis.
McCloy Group will be responsible for all community levies until June 2019. Thereafter lot owners will be required to pay community levies, which are currently budgeted as follows:
• $90.00 per quarter
• $7.00 per week
For only $7.00 a week you can be sure the community you live in is kept looking its best!
Contact us today to find out more about the benefits of a community titled neighbourhood!