Unit Title vs Cross Lease Units

[NovInvestor]

Hi all

I'm just wondering the difference in perception about Unit Title vs Cross Lease Units, especially from the $$$ point of view.

Say same block of units, would there be a difference in value $ say Unit Title vs Cross Lease Units?

Advantage of unit title is having a body corp that keeps the block looking consistent and maintained in the same standard.

Cross lease would not have an annual fee, but runs the risk of having different maintenance standards, and the block can look really strange with well maintained properties, and bad ones.

I think Olly Newland mentioned there is price difference on a recent seminar.

[Orkibi]

It depend of the block.

Is it single level with yards or 2 level?

If single level I would go for cross lease.
Unit title now require to have body cooperate fees etc.

[AMR]

There will be some changes to unit titles in the coming year. Basically they will be required to create a long term maintenance plan and then decide whether to fund it or not. There are some changes which will make it more transparent for buyers as well, and a few new rules to comply with the RTA such as the requirement

[Orkibi]

I'm not sure if you have to do that if you own all of them.

[NovInvestor]

Well if one person owns all on the block then it doesn't really matter too much then because this person has all the say.

[Momo]

There will be some changes to unit titles in the coming year. Basically they will be required to create a long term maintenance plan and then decide whether to fund it or not. There are some changes which will make it more transparent for buyers as well, and a few new rules to comply with the RTA such as the requirement

Where can I find out more information about the changes you mentioned? Thank you