With Melbourne’s house prices being where they are and have been (are probably going?), it makes sense for a lot of empty-nesters to sell the family home and downsize into an apartment. It means freeing up capital/funds for other use, smaller space to clean, and less or no property maintenance (as it’s done by the OC).
However in recent weeks, we have had a few enquiries whereby ownership in an owners corporation and strata living has encountered a few teething matters.
Here’s the common story and some common themes that we have been hearing it when it comes to those new in owners corporations in Melbourne:
1. Most people in the apartment building moved in from houses and have dealt with strata or owners corporation before;
2. The developer chose and appointed the strata or owners corporation manager before the owners even moved in;
3. The new owners (and new to owners corporations) were not getting the service that they are paying for, the communication is poor, and there’s a severe lack of guidance and advice for the new owners navigating owners corporation living;
4. The marketing gave an estimate of the expected owners corporation levies but the real world invoices that the owners are receiving are higher than what was estimated;
5. A lot of service providers and contractors are expensive and don’t do a great job (i.e. cleaning, caretaking, building management, ESSM servicing, etc.).
6. As the building is only 1-3 years old, the owners haven’t had the proper opportunity to meet and get to know one another – and they haven’t had time enough to properly co-ordinate into a Committee to represent the owners corporation’s interests;
7. The builders went into administration – came in to attend to some defects – but there are still some defects – number of leaks (told them they will fix it but never came back to fix them);
8. The Committee and Owners Corporation are in the dark when it comes to rectifying building defects (some of which could be significant). They’re not sure on the process or how to get started.
Owners Corporation Management Specialists (Melbourne)
Is your building and owners corporation going through the same or similar experience? Write to us and tell us your story via firstname.lastname@example.org
Or feel free to call into office and speak with a Strata Management Consultants on 1300 917 848