The Jointly Owned Property Law, popularly known as the Strata Law, was enacted in 2007, with regulations added in 2010 pertaining to the ownership of both residential and commercial units, common areas, and providing provisions for the establishment of an OA to manage the same.
Association is designed to help people get the best out of their property and environment. The entity takes care of shared utilities such as building elevators, power, fire and safety, structural integrity, and general cleanliness.
Major gains to property owners are discussed below.