Going green’ seems to be a widely popular topic these days. The many recent natural disasters as a result of global warming have been somewhat of a scare, and people are rolling up their sleeves to take responsibility for their micro-communities. So what does this mean for strata? Quite simply, doing your part and actually…Details
I recently spoke at a Griffith University business lunch as part of a panel discussing the creation of communities for tomorrow. The host of the panel, ABC personality Adam Spencer, started the discussion with the question: “What has been the biggest change we have noticed in the last 15 years in respect of the communities…Details
Although the sting from the GFC lingers, there is sunshine on the horizon. A recent RPdata report showed that the affordable housing market has experienced growth in median sale prices over the past year. RPdata senior research analyst Cameron Kusher comments: “It is a similar story across the unit market with suburbs at the southern and…Details
Developers are obtaining benefits through Government grants for some easy design inclusions to address stormwater harvesting and reuse initiatives. The objectives of the grants are to facilitate: • improving the security of water supplies in Australia, without adding to greenhouse gas emissions • reducing the demand for potable water supplies • helping to reduce the…Details
Quantity Surveyors generally produce the first Sinking Fund Report for an off the plan scheme on the basis of what they know (reading the plans) and what they are told (information obtained at the consultants meeting). The information that is not shared generally ends up in the “Lets include unknown capital costs until proven otherwise”.…Details
Alert – Insurance in North Queensland has increased !! Check your disclosed Budget estimates for any strata project in this region.
Has your strata budget been in contract over a period of time for any North Queensland projects ? Recently our team arranged for a re-quotation where the original insurance estimate was in the vicinity of $140K for a large project in this region. The estimate had been included in the budgets for the off the…Details
There has been a very recent Court decision involving one of the owners corporations managed by SSKB in New South Wales. This is a decision which has wide implications for the industry and it is worthy of us thinking about the implications so we can create better strata communities. It is a decision about “what…Details
Developers are being caught out by consultants using estimates in strata budgets for the Sinking Fund or capital components. In the world of strata the Sinking Fund Report can be prepared in an off the plan format, the data used to incorporate into the disclosed budgets and ultimately adopted at the first meeting of the…Details
Does the community really need to incur the cost? The design of community title needs to be carefully thought through by the development team. The body corporate should only take on financial burdens that will be perceived by land owners to provide a benefit to the community. For example, if wetlands were part of the…Details
Fibre in new developments The Australian Government wants fibre infrastructure installed in new developments. Providing property buyers early access to the benefits of next-generation broadband. Recently the Federal Minister for Broadband, Communications and the Digital Economy Infrastructure, announced changes to the arrangements for providing fibre to new developments and these changes are effective immediately. The…Details
Challenges ahead for the development industry in respect of the management problems in large, complex and mixed use schemes: as view by a community manager from Qld.
Presented to “Strata and Community Title in Australia for the 21st Century Conference” by Tim Sheehan. Introduction Scope I have been requested to prepare a paper dealing with the challenges ahead for the development industry in respect of management problems in large, complex and mixed use schemes. This paper is restricted to the following types…Details
Facilitating a management rights business more effectively – it’s your responsibility!! There are a few major areas developers should consider during the sale and settlement of management rights. Caretaking agreements need to be site specific and properly costed. There is little point allocating a Caretaking salary in an agreement without the agreement being accompanied by…Details