These Kitchener Group developments have apartment leases that provide for the Lessees to pay OPEX to the Lessor “ …upon demand in writing…” This wording appears to rule out “levies” as for unit titles or “monthly instalments” that the lessor can require under most commercial leases.
Are my assumptions correct? What happens in practice at Princes Wharf and Q Central and is there any problem with the fact that there is no requirement for budgets, audited accounts or any other financial accountability by the Lessor? Would the Consumer Guarantees Act apply?
There may be other developments with similar leases.
Are my assumptions correct? What happens in practice at Princes Wharf and Q Central and is there any problem with the fact that there is no requirement for budgets, audited accounts or any other financial accountability by the Lessor? Would the Consumer Guarantees Act apply?
There may be other developments with similar leases.
Comment