[NSW] Storage Cage Title Purchase

Litsme56 on 17/12/2020 - 17:48
Last edited 17/12/2020 - 18:22

Hi all.

NSW Realestate Question - want to buy a storage cage, about 2m squared in my apartment building.

Has anyone purchased a storage cage off of the developer, after the fact (after you have settled on a Unit in the same building).

I understand that the cage has a seperate title, so will need to see solicitor, pay stamp duty, etc. But I'm also assuming there will be Council Rates involved since it's a seperate title.

Questions:
Has anyone else experienced this, gone through this?
1. What are the council rates like (cost?) per qtr for the seperate title.
2. Has anyone ever gone through the process to merge the two titles? I.e. get the cage on the title with the Unit? (not sure this is even possible?).

Thanks!

Home & Garden

Comments

  • Mechz on 17/12/2020 - 18:11
    +3

    Wow, developer rorts never cease to amaze me. Surely you could have the council tie the title to your apartment? I'd be giving them a call about costs because rates are very suburb specific.

    • itsme56 on 17/12/2020 - 18:19

      Yeah you would think you'd be exempt for owning property and paying rates already in the same suburb or could tie the two. I'll be giving them a call in the morning.

  • screensaver on 17/12/2020 - 18:21

    I think its a seperate title so it can be sold seperately. Would be similar to car space.

    • itsme56 on 17/12/2020 - 18:22

      Yes.

  • theHMASfriendship on 17/12/2020 - 19:54
    +2

    I thought the title read NSFW so I waited until I got home to check it and was disappointed 2/10.

  • [Deactivated] on 17/12/2020 - 20:13
    +3

    storage cage, about 2m squared

    the cage has a seperate title, so will need to see solicitor, pay stamp duty, etc.

    This would make me lose the will to live

  • twadds on 17/12/2020 - 21:55
    +1

    You may be able to aggregate the rates for the storage cage with your apartment rates, this will combine the 2 lots so you only pay one rates bill. Your rates will still go up but only slightly.

    City of Sydney has some info about it but your council area might vary.
    https://www.cityofsydney.nsw.gov.au/rates/check-rate-categor…

    The 2 titles will still be separate, you will just get one rates bill, I did it with a parking space years ago, only had to fill out a short form and send it to the council and was combined a few days later.

    Rates are based on the value of your apartment, the new rates once aggregated will just be based on the combined value of the apartment and storage cage.

    • itsme56 on 17/12/2020 - 22:07

      Thanks! Just the info I was looking to hear.

    • itsme56 on 18/12/2020 - 10:55

      Hills Council want $500 p/y for a 2sqm storage lot. What a rort. On top of my $1600 rates for 50 sqm Unit.

  • brad1-8tsi on 18/12/2020 - 23:03

    I have an apartment, 2 cars spaces and a 16 sqm storage.

    They are all on seperate lot numbers.

    I pay separate strata fees on each one (but the strata manager combines them into 1 bill).

    As far as I can remember they are all on 1 title.

    I only get 1 rate notice

  • Logical on 19/12/2020 - 00:59

    If the storage cage is in the basement carpark then don't do it. Sell your surplus stuff… Otherwise it will just sit in storage until 10yrs later you see it and wonder why you kept the stuff.

  • screensaver on 19/12/2020 - 03:04

    2 square metres is not worth it, go to Ikea and investigate storage options or similar

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