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Strata title is a form of ownership and housing tenure devised for multi-level apartment blocks and horizontal subdivisions with shared areas. The word "strata" refers to apartments on different levels. Strata title was first introduced in 1961 in the state of New South Wales, Australia, to better cope with the legal ownership of apartment ...
Board of Architects; Building and Construction Authority (BCA) Council for Estate Agencies (CEA) Housing and Development Board (HDB) National Parks Board (NPB) Professional Engineers Board, Singapore; Strata Titles Boards; Urban Redevelopment Authority (URA)
A board of directors is elected by the owners of units (or, in the case of a common elements condominium corporation, the owners of the common interest in the common elements) in the development on at least a yearly basis. A general meeting is held annually to deal with board elections and the appointment of an auditor (or waiving of audit).
Strata management, sometimes known as "body corporate management", is a specialist area of property management involving the day-to-day operation and management of a property that is jointly owned and comprises multiple units, common areas and common facilities.
A condominium (or condo for short) is an ownership regime in which a building (or group of buildings) is divided into multiple units that are either each separately owned, or owned in common with exclusive rights of occupation by individual owners.
The developer is responsible to maintain and manage the building intended for strata title subdivisions during the first year after vacant possession (developer's management period). Within that one year, the developer shall call for an Annual General Meeting of all proprietors, during which, the Joint Management Body (JMB) is formed.
A housing cooperative's board of directors is elected by the membership, providing a voice and representation in the governance of the property. Rules are determined by the board, providing a flexible means of addressing the issues that arise in a community to assure the members' peaceful possession of their homes. [7]
It has campaigned on a broad range of property-related issues, including opposing land tax increases, reducing stamp duty, opposing minimum apartment standards, reforming strata title, opposing increased fees for foreign property purchasers, and opposing land-clearing restrictions.