A strata, also known as a strata corporation or strata property, refers to a form of property ownership common in many countries, including Jamaica. In a strata property, individual owners own a portion of a larger building or development, typically referred to as a strata lot, while also sharing ownership of common areas such as hallways, elevators, and recreational facilities.
Each owner is a member of the strata corporation, which is responsible for managing and maintaining the common areas and enforcing bylaws and rules governing the property. Strata properties are governed by specific laws and regulations to ensure orderly management and maintenance.
In essence, a strata property allows individuals to own their own unit within a larger building or development while collectively sharing ownership and responsibility for common areas and facilities. This form of ownership is common in condominiums, townhouses, and apartment buildings.
