Community governance offers lifestyle, economic and environmental benefits, which are not found in freehold developments. Strata title developments offer communities an economic benefit, being the ability to purchase bulk services for both common areas of the community and individual residents. Utilities such as Electricity, by leveraging “community purchasing power” percentage savings can be achieved, compared…Details
When purchasing sites under an existing Building Management Statement (BMS) arrangement it is important to request the expected outgoings (and evidence thereof) prior to purchasing. A recent client purchased a site under a BMS arrangement. When time came to deliver contracts to sign up purchasers and secure funding the outgoings for the site were investigated…Details
Certificates of Classification provide important information about the use of the building, ongoing maintenance requirements, fire safety and other special requirements. They need to be displayed to ensure this information is readily available for people who occupy the building, Queensland Fire and Rescue Service (QFRS) and local government officers. It is an offence not to…Details
With the recent changes in Queensland strata legislation, entitlements for each individual commercial strata lot can now be calculated on a new market value factor. By utilising the market value factor, entitlements may proportionally mirror the per m2 rate with a balancing effect to the outgoings per m2 rate. Smaller lots at a lower market…Details
Following the January 2011 flood, a Joint Flood Taskforce was formed. The Taskforce helped Brisbane City Council understand the event and any impact new information may have on flooding standards for planning and development in Brisbane. The Taskforce recommended Council adopt an interim flood standard equal to the January 2011 flood level in most areas,…Details
Disclosure Statements and Community Management Documents – Do you have to re-disclose ? Are your documents up to date ?
In Queensland the Body Corporate and Community Management legislation changed on 14th April 2011. From this date there are new requirements to adhere to. Existing Disclosure Statements may need updating and Community Management Statements may need changes prior to registration. Here are some questions to ask your consulting team: Are the contribution schedule lot entitlements…Details
Changes to the Body Corporate and Community Management Act Can Make Unit Ownership More Affordable. Generally changes to legislation are highly technical matters requiring expensive compliance with lawyers, making little difference to developers trying to put together projects which the market embraces. The changes enacted on 14 April in Queensland are different. They might in…Details
A security bond is a refundable bond that is lodged with the body corporate at the time a lot owner submits building application.(the amount varies on the type of development and may range from $2,000. through to $10,000). The security bond is a form of guarantee to protect the developer and the body corporate’s design…Details
Distressed Development Sites – are you picking up a disclosed project with contracts already on foot?
Our Developer Consulting Team has assisted clients picking up existing projects to understand all strata implications. From timing to delivery, have you considered what does the disclosed budget mean ? Is the budget realistic ? What exposure areas are probable ? What strategies can be implemented now to have positive outcomes ? When purchasing distressed…Details
How strong is your key project consulting team? Utilising consultants that have strength in experience and existing key relationships with leaders in the consulting market can deliver outcomes for your project in time efficient and cost efficient strategies. Time is money, when engaging your key consulting team ask the following questions? Has the consultant handled…Details
Markets are changing and influences can swing the viability of a project over night. Have you taken the time to understand the following marketing targets for your project ? What is the likelihood of the location growing in the current market? What is the profile of purchasers for the location ? What other projects are…Details
Providing bulk services to your development can save both you and the buyer money – due to economies of scale and purchasing power. It is import that minimal administration effort by the body corporate committee, body corporate manager and the resident manager is provided in a well thought out plan incorporated into the consulting phase…Details