“What does it mean when it says the building has a guest suite?”

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Answer:

What they are referring to when they say the building has a guest suite; is an extra apartment that is fully furnished that can be rented. Rented on a nightly/short term basis for friend or family members of people who live in the building. This unit is owned in part by all the owners through your strata. Some buildings have chosen to hold back one apartment as in this case for this purpose instead of selling it to the open market, it is an asset of the strata. If the owners ever decided that it does not get used, they have the ability (I think ) to vote on selling the apartment and the monies earned would go back into the strata.

Did that answer the question?

Thank you, Roland