As a sharing owner you can take advantage of a unique option known as staircasing.
Following the first anniversary of your initial investment you can buy additional shares in the property until you achieve 100% ownership of the property.
Only one staircasing transaction per year is allowed.
Each time you increase your share your rent will be reduced on the remaining portion owned by the Association.
A valuation of the property will be determined by the District Valuer or other such other professionally qualified valuer. The cost of this valuation will be met by you.
You may of course need to increase your mortgage to cover your additional share.
The Association and sharing owner will be responsible for their own legal costs.