Did You Forget Something?
Developers are risking reputations – and future sales — by overlooking one key consultant at the beginning of a development project.
As well as the architects, planners, lawyers, sales & marketing consultants, developers should also be engaging an OC Strata Consultant.
Getting the correct structure, levy budgets and expected property management issues sorted early, creates a smoother transition from the initial ownership to that of the community.
Failure to engage an OC Strata Consultant early in the process can result in discrepancies between the disclosed levy amount and the actual operating budget through missed line items.
Too many times the first year is managed very tightly as there is just not the funds to maintain the expected standards. Of course, this means an increase in the second-year funds to service a more realistic requirement.
Any steep rise in levies is always seen as unfavourable by the new owners.
As experienced OC managers, we can also assist at the design stage by identifying facilities that have the potential to cause future disagreements between the developer and the OC.
For example, providing separate waste areas for residential and commercial areas in a mixed-use development.
At SSKB, we are extremely aware of the need to have competitive levies to enable presales, but the levies need to encompass the needs of the property when established as well. This is most important in a staged development, as future presales can be impacted by any negativity displayed through media channels by any initial purchasers in earlier stages.
For further information contact the SSKB Development Consulting Division on firstname.lastname@example.org or 03 8641 6555.